State Tax Incentives for Long-Term Care Insurance



Deduction: With effect from 1 Jan. 2004, a taxpayer may deduct any premiums for qualified long-term care insurance, reduced by any premiums deducted from federal income tax and by premiums claimed as an itemized deduction pursuant to Title 24-A, Chapter 68.

Rev. Stat. Title 36, Part 8, Chapter 805, Sec. 5 7 22

Credit: For employers, tax credit for federally Tax-qualified long-term care insurance, equal to the lowest of: (A) $5,000; (B) 20% of the costs of providing coverage; or $100 for each covered employee.

Title 36, Part 4, Section 2525, Chapter 357

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