ME LD229

Expands Maine's income tax structure from 3 brackets to 6 brackets beginning January 1, 2026, with rates of 5.8%, 6.75%, 7.15%, 7.52%, 7.15%, and 8.2%

Raises the income threshold for the lowest 5.8% bracket from $21,050 to $41,600 for single filers, from $31,550 to $62,400 for heads of household, and from $42,100 to $83,200 for married couples filing jointly

Creates a new top tax rate of 8.2% applying to income over $500,000 for single filers, $750,000 for heads of household, and $1,000,000 for married couples filing jointly

Maintains annual cost-of-living adjustments to bracket thresholds based on the Chained Consumer Price Index published by the U.S. Bureau of Labor Statistics