DanielV01
Expert Alumni

Retirement tax questions

Eligible pension income in Maine includes the following:

Deductible pension income, other than military retirement pay, includes state and federal pension benefits and retirement benefits received from plans established and maintained by an employer for the benefit of its employees such as: qualified pension plans, including qualified SIMPLE plans; employee annuities; and eligible deferred compensation plans from state and local governments or tax exempt organizations. Deductible pension income also includes benefits received from individual retirement accounts, including ROTH and SIMPLE IRAs, and simplified employee pension plans.

(Taken from the following Maine link: What is the Pension Benefits Income Deduction?)

However, any retirement income deduction is reduced by taxable and non-taxable Social Security benefits you are receiving.  

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