Maine Stock Option Grants and Exercises and Fiscal Year-End Values
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Maine taxes both long- and short-term capital gains at the full income tax rates described in the income tax section above. This means that income from capital gains can face a state rate of up to 7.15% in Maine.
All of a financial institution's net income and end-of-year assets are apportioned to this State by multiplying the income and the assets by a fraction, the numerator of which is the property factor plus the payroll factor plus 2 times the receipts factor and the denominator of which is 4.
The apportionment requirement dictates that the tax quota allocable to each state must be exactly the same, because the population is the same.
For example, if a multistate corporation that is subject to State A's corporate income tax has $100 million of apportionable income, and application of State A's apportionment formula results in an apportionment percentage of 15%, then $15 million of the corporation's apportionable income is subject to State A's ...
The apportionment formula calculates the percentage of the property, payroll and sales of the unitary business, which are attributable to California. The total business income of the unitary business is multiplied by this percentage to derive the amount of business income apportioned to this state.
In order to apportion the cost of electricity to one specific department, you simply multiply the amount of the overhead by the number of employees in that department, then divide that by your total number of employees.
Stock options The executive owes only long-term capital gains tax on gains above the exercise price when the stock is eventually sold. ISOs also escape social security taxes on exercise, regardless of when the sale occurs. However, ISOs give rise to alternative minimum taxable income at the time of exercise.
Are other forms of retirement income taxable in Maine? Income from retirement savings accounts like an IRA or 401(k) is taxable. Pension income, whether from a public employee pension fund or from a private employer, is also taxable. Maine does allow for a deduction of up to $10,000 per year of pension income.