Maine R&D Tax Credit Summary

R&D Tax Credit Available:

Yes


Eligible Entities:

C-Corporations, S-Corporations, LLCs, Partnerships


Deadline for Tax Filing:

Due with Maine Tax Return


Data Required to Compute Credit:

  • Claim Period Qualified R&D Expenses (QREs)
  • QREs for Prior 3 Years

Credit Carryforward:

15 years


R&D Credit Summary:

The Maine research credit equals:

  • 5% of the excess qualified research expenses over the previous three-year average; plus
  • 7.5% of basic research payments (relating to research performed by qualified universities or scientific research organizations).

Special Notes:

  • For corporations, the credit is limited to 100% of the first $25,000 in income tax determined before other credits, plus 75% of the tax amount in excess of $25,000
  • The credit cannot be carried back, but can be carried forward for up to 15 years
  • "Super Credit" for Substantially Increased R&D Activities was repealed for tax years beginning on or after January 1, 2014
Research Tax Credit
Important Links and Forms

Maine DECD

Maine Worksheet

Have any questions?
Contact us for answers!

Learn More About R&D Tax Credits