ME LD2188

Removes references to the expired Maine capital investment credit and creates new income addition/subtraction modifications for bonus depreciation under IRC Section 168(k) for taxable years beginning on or after January 1, 2025

Aligns pension deduction phase-out thresholds for married individuals filing separately ($125,000) with single filers, and sets the phase-out denominator at $100,000 for tax years after 2025

Consolidates sales tax exemptions by removing redundant provisions for crutches/wheelchairs (now covered under durable medical equipment) and portable classroom components (now covered under production exemption), and removes lease-for-use-in-state restrictions

Increases smokeless tobacco tax from $2.02 to $3.54 per ounce effective January 5, 2026

Clarifies property tax procedures including: taxable year runs April 1 to March 31, property in revocable living trusts qualifies for homestead tax deferral, and foreclosed property sales must comply with Tyler v. Hennepin County requirements