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Maine Free Printable  for 2023 Maine Vouchers and Instructions for Estimated Tax Payments

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Vouchers and Instructions for Estimated Tax Payments
Form 1040ES-ME

STATE OF MAINE ESTIMATED TAX FOR INDIVIDUALS Maine Revenue Services P.O. Box 9101 Augusta, Maine 04332-9101 FORM 1040ES-ME INSTRUCTIONS Maine EZ Pay • These instructions are intended for the majority of taxpayers who report on a calendar year basis. If you report on a fiscal year basis, the dates should be changed to correspond with your fiscal year. You may pay your income taxes electronically at www.maine.gov/ revenue. Electronic payments eliminate the necessity of filing Forms 1040ES-ME (income tax estimated payment vouchers). Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See Maine Rule 102 on the Maine Revenue Services website at www.maine.gov/revenue (select Laws & Rules). To use Maine EZ Pay you must pre-register online with personal and bank account information, and payments will be withdrawn from the checking or savings account that is set up in the registration. For more information, see www.maine.gov/revenue (select Electronic Services). • You may download additional worksheets and vouchers from the internet at www.maine.gov/revenue/tax-return-forms or call (207) 624-7894. If you need help completing the worksheet on the back, call (207) 626-8475. • Please file the original or downloaded estimated tax voucher with Maine Revenue Services. Make a copy of the voucher for your records. 1) WHO MUST MAKE ESTIMATED TAX PAYMENTS. In most cases, you must pay estimated tax if your estimated Maine income tax for the year, over and above tax withheld and allowable credits, is $1,000 or more and if your tax liability for the prior year was also $1,000 or more. 2) HOW TO CALCULATE YOUR ESTIMATED TAX. Use the worksheet on page 2 to calculate your estimated tax. To avoid penalties, the estimated tax paid must be no less than the smaller of the following: a) An amount equal to the preceding year’s tax liability, if the preceding year was a taxable year of 12 months; or b) An amount equal to 90% of the tax liability for the current taxable year. You will also find information concerning the Maine personal exemption, standard deduction, and the tax rate schedules on page 2. The exemption amount, standard deduction amounts and tax rate schedules are those in effect under current law for tax years beginning in 2023. Note – Special Rule for Unusual Event Income. Definitions. For purposes of this special rule, the following terms have the following meanings: Maine taxable income means income subject to Maine income tax, but which is not subject to Maine income tax withholding. For example, for purposes of this special rule, Maine taxable income includes business income and capital gains, but does not include wages. Unusual event income means Maine taxable income (as defined above) received during an estimated tax installment period of the current tax year, but only if that amount exceeds the Maine taxable income received during the same estimated tax installment period of the prior tax year by $500,000 or more. Special Rule. If you have unusual event income, you must pay a Maine estimated tax on that income equal to 90% of the tax liability on that income. This special rule prohibits you from utilizing the prior year tax liability rule under paragraph a above to determine the amount of Maine estimated tax due on unusual event income. The estimated tax due on unusual event income is in addition to the estimated tax due on any other income received during the installment period (such as pension or annuity income subject to Maine income tax withholding where the Maine withholding amount is insufficient). Maine income that is not unusual event income is subject to the regular estimated tax requirements contained in 36 M.R.S. § 5228 and briefly described in these instructions. Example: If your Maine taxable income not subject to withholding during January-March 2022 was $300,000 and your Maine taxable income during January-March 2023 is $900,000, you have unusual event income (i.e., the 2023 income amount exceeds the 2022 income amount by $500,000 or more). Therefore, under the special rule, you must pay a Maine estimated tax for the January-March 2023 installment period equal to 90% of the tax liability on the $600,000 ($900,000 - $300,000). You cannot, with respect to the $600,000, calculate the estimated tax based on your prior year tax liability (as may be allowed for other income). Extension to pay; waiver of penalty. If you are subject to the special rule described above and you meet all of the criteria listed below, you are entitled to an extension of time to pay the estimated tax or to receive a waiver of penalty associated with the unusual event income. Any extension of time granted may not extend past the original due date for filing the return for the tax year. Requests for extension of time to pay or for waiver of penalty must be submitted to the State Tax Assessor in writing. You must meet all of the following: a) You are an owner in a pass-through entity; b) You had no control over the distribution of the unusual event income; c) You did not actually or constructively receive payment of the unusual event income; and d) You pay the estimated tax on the unusual event income by the estimated tax installment payment due date following the installment period during which you actually or constructively receive the unusual event income. 3) WHEN AND WHERE TO MAKE PAYMENTS. The first installment payment is due on April 18, 2023. You may either pay all of your estimated tax at that time or pay in four equal installments on April 18, 2023, June 15, 2023, September 15, 2023, and January 16, 2024. Payments can be made electronically using Maine EZ Pay (no forms required) at www.maine.gov/ revenue or send your payment with the appropriate voucher Form 1040ESME to the address printed on the voucher. If you overpaid your 2022 income tax and elected to apply the overpayment to your 2023 estimated tax, that overpayment may be partially or fully applied to any installment. 4) FARMERS AND FISHERMEN. If at least 2/3 of your estimated adjusted gross income is from farming or fishing, your estimated tax may be paid in a single installment due on or before January 16, 2024. If you file your 2023 individual income tax return on or before March 1, 2024, and pay the total tax at that time, you need not make an estimated tax payment. 5) CHANGES IN INCOME. Even though you are not required to pay estimated tax on April 18, 2023, your expected income may change so that you will be required to pay estimated tax later in the year. When the change becomes known and the estimated tax is calculated, payment may be made at one time on the next installment due date or it may be paid in equal installments on the remaining due dates. If your estimated tax liability decreases because of an income change, reduce the remaining installments. 6) UNDERPAYMENT PENALTY. A penalty accrues automatically on underpayments of the required installment amount for the period of underpayment. The penalty does not apply if each required payment was made on time and if the total estimated tax paid is equal to 90% (66 2/3% for farmers and fishermen) of the income tax liability for the current year or 100% of the tax liability for the preceding year, if that year was a taxable year of 12 months. If you have unusual event income, you may be eligible to request an extension of time to pay the estimated tax or to request a waiver of the penalty associated with unusual event income. See note under item 2 above. COMPUTATION and RECORD of PAYMENTS VOUCHER NUMBER AND DATE PAID TOTAL ESTIMATE ORIGINAL OR AMENDED 2022 OVERPAYMENT APPLIED TO INSTALLMENTS AMOUNT OF INSTALLMENT PAYABLE BALANCE DUE TOTAL OF PAYMENTS $ $ $ $ $ $ $ $ SEPT. 15 $ $ $ $ JAN. 16 $ $ $ $ 1 2 $ $ APRIL 18 JUNE 15 3 $ 4 $ 1 Revised: December 2022 Form 1040ES-ME 2023 ESTIMATED TAX WORKSHEET (Keep for your records) 1. Total income expected in 2023 (line 1, 2023 federal Estimated Tax Worksheet) .............................................. 1. 2. Deduct - income subtraction modifications included in line 1. See the 2022 Form 1040ME, Schedule 1S. Note that the maximum pension income deduction is increased to $30,000 for tax year 2023. ....................... 2. 3. Line 1 less line 2 ................................................................................................................................................ 3. 4. Add - income addition modifications. See the 2022 Form 1040ME, Schedule 1A. ........................................... 4. 5. Adjusted gross income for Maine (line 3 plus line 4) ......................................................................................... 5. 6. a. Deductions - standard or itemized (up to $33,200). See instructions below ......... 6a. b. Exemptions - enter $4,700 ($9,400, if married filing jointly). Except, enter $0 if you (or if married filing jointly, both you and your spouse) may be claimed as a dependent on another person’s return. If married filing jointly and only one spouse may be claimed as a dependent on another person’s return, enter $4,700. Note: If your Maine adjusted gross income is over $305,150, complete the Worksheet for Phaseout of Personal Exemption Amount available at www.maine.gov/revenue/tax-return-forms. 6b. 7. Total of lines 6a and 6b ...................................................................................................................................... 7. 8. Maine estimated taxable income (line 5 less line 7) .......................................................................................... 8. 9. Estimated tax (multiply line 8 by the applicable rate from the Tax Rate Schedules below). .............................. 9. 10. Tax credit recapture amounts. See instructions below. ................................................................................... 10. 11. Credits. See the 2022 Form 1040ME, Schedule A. ......................................................................................... 11. 12. Estimated Maine income tax to be withheld during the year ........................................................................... 12. 13. ESTIMATED TAX (add lines 9 and 10 less lines 11 and 12) ..........................................................................13. TAX CREDIT RECAPTURE AMOUNTS: Line 10 is the amount of credits previously used to reduce Maine income tax that are now subject to recapture. MAINE DEDUCTIONS — (Line 6a above) TAX RATE SCHEDULES — (Line 9 above) Note: If your Maine adjusted gross income is over $91,500, your itemized For Single Individuals and Married Persons Filing Separate Returns deductions or standard deduction may be reduced. See the Worksheet If the taxable income is: The Tax is: for Phaseout of Itemized/Standard Deductions available at www.maine. Less than $24,500 5.8% gov/revenue/tax-return-forms. $24,500 but less than $58,050 $1,421 plus 6.75% of excess over $24,500 Itemized Deductions: If you plan to itemize deductions, enter the $58,050 or more $3,686 plus 7.15% of excess over $58,050 estimated total of your itemized deductions (see Maine Form 1040, Schedule 2 and related instructions). If you do not plan to itemize For Unmarried or Legally Separated Individuals who Qualify as deductions, enter the standard deduction amount for your filing status Heads of Household shown below. If the taxable income is: The Tax is: Standard Deduction for 2023: Less than $36,750 5.8% Single ------------------------ $13,850 Married Filing Jointly or Qualifying $36,750 but less than $87,100 $2,132 plus 6.75% of excess over $36,750 Head of Household ------ $20,800 Widow(er)-------------------$27,700 $87,100 or more $5,531 plus 7.15% of excess over $87,100 Married Filing Separately $13,850 Additional Standard Deduction for Age and/or Blindness: Married (whether filing jointly or separately) or a qualified widow(er): the additional standard deduction is $1,500 if one spouse is age 65 or over OR blind; $3,000 if one spouse is 65 or over AND blind; $3,000 if both spouses are 65 or over OR blind; $6,000 if both spouses are 65 or over AND blind, etc. For Married Individuals and Surviving Spouses Filing Joint Returns If the taxable income is: The Tax is: Less than $49,050 5.8% $49,050 but less than $116,100 $2,845 plus 6.75% of excess over $49,050 $116,100 or more $7,371 plus 7.15% of excess over $116,100 Unmarried (single or head of household): the additional standard deduction is $1,850 if the individual is 65 or over OR blind; $3,700 if the individual is both 65 or over AND blind. 2 CLEAR PRINT Pay your estimated tax electronically using Maine EZ Pay at www.maine.gov/revenue and eliminate the need to file Form 1040ES-ME or detach and mail this voucher with check or money order payable to Treasurer, State of Maine, to: Maine Revenue Services, P.O. Box 9101, Augusta, ME 04332-9101. 2023 Form 1040ES-ME Your First Name Estimated Tax Payment Voucher 1 for Individuals Due April 18, 2023 *1902320* Initial Your Social Security Number 1. Your Last Name Spouse’s First Name Initial Spouse’s Social Security Number 99 Check if you are a first-time estimate filer. 2. Check if your address has changed. 3. Amount of payment: .00 Spouse’s Last Name 4. If you are a fiscal year filer, enter month/year ending: Address (number, street and apt. no.) NOTE: If you are married and plan to file a joint 2023 return with your spouse, enter your spouse’s name and social security number in the spaces provided. City State ZIP Code Pay your estimated tax electronically using Maine EZ Pay at www.maine.gov/revenue and eliminate the need to file Form 1040ES-ME or detach and mail this voucher with check or money order payable to Treasurer, State of Maine, to: Maine Revenue Services, P.O. Box 9101, Augusta, ME 04332-9101. 2023 Form 1040ES-ME Your First Name Estimated Tax Payment Voucher 2 for Individuals Due June 15, 2023 Initial Your Social Security Number 1. Your Last Name Spouse’s First Name 99 *1902320* Initial Spouse’s Social Security Number Check if you are a first-time estimate filer. 2. Check if your address has changed. 3. Amount of payment: .00 Spouse’s Last Name 4. If you are a fiscal year filer, enter month/year ending: Address (number, street and apt. no.) NOTE: If you are married and plan to file a joint 2023 return with your spouse, enter your spouse’s name and social security number in the spaces provided. City State ZIP Code Pay your estimated tax electronically using Maine EZ Pay at www.maine.gov/revenue and eliminate the need to file Form 1040ES-ME or detach and mail this voucher with check or money order payable to Treasurer, State of Maine, to: Maine Revenue Services, P.O. Box 9101, Augusta, ME 04332-9101. 2023 Form 1040ES-ME Your First Name Estimated Tax Payment Voucher 3 for Individuals Due September 15, 2023 *1902320* Initial Your Social Security Number 1. Your Last Name Spouse’s First Name Initial Spouse’s Social Security Number 99 Check if you are a first-time estimate filer. 2. Check if your address has changed. 3. Amount of payment: .00 Spouse’s Last Name 4. If you are a fiscal year filer, enter month/year ending: Address (number, street and apt. no.) NOTE: If you are married and plan to file a joint 2023 return with your spouse, enter your spouse’s name and social security number in the spaces provided. City State ZIP Code Pay your estimated tax electronically using Maine EZ Pay at www.maine.gov/revenue and eliminate the need to file Form 1040ES-ME or detach and mail this voucher with check or money order payable to Treasurer, State of Maine, to: Maine Revenue Services, P.O. Box 9101, Augusta, ME 04332-9101. 2023 Form 1040ES-ME Your First Name Estimated Tax Payment Voucher 4 for Individuals Due January 16, 2024 Initial Your Social Security Number 1. Your Last Name Spouse’s First Name 99 *1902320* Initial Spouse’s Social Security Number Check if you are a first-time estimate filer. 2. Check if your address has changed. 3. Amount of payment: .00 Spouse’s Last Name 4. If you are a fiscal year filer, enter month/year ending: Address (number, street and apt. no.) NOTE: If you are married and plan to file a joint 2023 return with your spouse, enter your spouse’s name and social security number in the spaces provided. City State ZIP Code
Extracted from PDF file 2023-maine-form-1040es-me.pdf, last modified January 2023

More about the Maine Form 1040ES-ME Individual Income Tax Estimated TY 2023

This form is used for individuals who need to estimate their taxes.

We last updated the Vouchers and Instructions for Estimated Tax Payments in April 2023, so this is the latest version of Form 1040ES-ME, fully updated for tax year 2022. You can download or print current or past-year PDFs of Form 1040ES-ME directly from TaxFormFinder. You can print other Maine tax forms here.

Other Maine Individual Income Tax Forms:

TaxFormFinder has an additional 61 Maine income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Income Tax Instructions Form 1040ME Instructions
Form 1040EXT-ME Extension Payment Voucher
W-4ME Employee’s Maine Withholding Allowance Certificate
Schedule PTFC Schedule PTFC Property Tax Fairness Credit
Form 1040ME 1040ME Income Tax Return

Download all ME tax forms View all 62 Maine Income Tax Forms


Form Sources:

Maine usually releases forms for the current tax year between January and April. We last updated Maine Form 1040ES-ME from the Revenue Services in April 2023.

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Form 1040ES-ME is a Maine Individual Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Maine Form 1040ES-ME

We have a total of four past-year versions of Form 1040ES-ME in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form 1040ES-ME

21_1040es_dwnload.indd


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