Maine Legislature Creates Tax Credit for Some Small Employers

For tax years beginning on or after January 1, 2014, there exists a credit against income tax for Maine employers with 20 or fewer employees equal to the expenditures for developing, instituting and maintaining a wellness program for their employees. The credit is limited to the lesser of $100 per employee or $2,000. The credit cannot reduce tax liability below zero; however, unused portions can be carried forward for up to five years.

Comments are closed.