Maine's pension deduction is reduced dollar-for-dollar by Social Security received, potentially increasing state tax on other retirement income.
While Maine exempts Social Security benefits from state income tax, its pension income deduction, capped at $49,824 per person for 2026, is directly offset by the amount of Social Security benefits received. For example, receiving $30,000 in Social Security would reduce the available pension deduction to $19,824, thereby exposing more pension or traditional IRA income to state taxation. This interaction means that delaying Social Security to receive higher benefits could further diminish the pension deduction, a dynamic that retirees should consider as it may not be unique to Maine.
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