MAINE R&D TAX CREDIT SUMMARY
Maine State R&D Tax Credits
In Maine, two credits are available to taxpayers who have incurred certain research expenses: the research expense tax credit and the super research and development credit.
Maine State Research Expense Tax Credit
- The research expense tax credit is allowed against Maine’s corporate income tax liability equal to the sum of 5% of the excess of qualified research expenses for the tax year over the base amount, and
- 7.5% of the basic research payments determined under IRC § 41 (e)(1)(a)
- A limitation exists so that the entity’s Maine corporate income tax cannot be reduced below zero
- Taxpayers that qualify for the research expenses credit above may also qualify for an additional credit, the super research and development credit, against Maine corporate income tax liability
How to Obtain the Credit?
Research Expense Tax Credit Worksheet
Refundable/Transferable Tax Credit – No
