Maine Crypto Tax Calculator
We built this free crypto tax calculator for residents of Maine who want to check calculations quickly. Our calculator is for informational purposes only. Please consult a CPA or tax professional. Use cryptocurrency tax accounting software if you have lots of trades.
Maine taxes capital gains as regular income, with rates ranging from 5.80% to 7.15%. To calculate Federal taxes, please use our USA tax calculator.
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Calculate for freeMaine Tax Brackets (2024)
| Single Filers | Married Filing Jointly | Tax Rate |
|---|---|---|
| $0 to $24,500 | $0 to $49,050 | 5.80% |
| $24,500 to $58,050 | $49,050 to $116,100 | 6.75% |
| Over $58,050 | Over $116,100 | 7.15% |
Cryptocurrency Taxation in Maine
Key Points
- Income-Based Taxation: Maine treats crypto gains as regular income, with rates from 5.80% to 7.15%.
- Progressive System: Tax rates increase with income across three brackets.
- No Distinction: Maine makes no distinction between short-term and long-term gains.
- Mining Income: Crypto mining is treated as self-employment income and taxed at regular income rates.
Common Tax Situations
Trading & Investment
All crypto trades, including crypto-to-crypto transactions, are taxable events. Gains are taxed based on your total income bracket.
Tax Planning Tips
Consider timing your crypto sales to manage your tax bracket position. Keep detailed records of all transactions for accurate reporting.