This is one of the official Workers' Compensation forms for the state of Maine.
This is one of the official Workers' Compensation forms for the state of Maine.
The Maine Workers Comp Settle With Me you see on this page is a multi-usable legal template drafted by professional lawyers in line with federal and state regulations. For more than 25 years, US Legal Forms has provided people, companies, and attorneys with more than 85,000 verified, state-specific forms for any business and personal occasion. It’s the quickest, most straightforward and most trustworthy way to obtain the documents you need, as the service guarantees the highest level of data security and anti-malware protection.
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Your employer will pay you 2/3 of your average weekly wage. This is called your compensation rate. There is a limit on how much you can receive, and the limit is different for different dates of injury.
Do you have to pay taxes on your workers' compensation payments? The answer is no. Whether you received wage loss benefits on a weekly basis or a lump sum settlement, workers' compensation is not taxable. IRS Publication 907 reads as follows: ?The following payments are not taxable ?
Typically, if your new job pays you less than you were making prior to your injury, you can still receive payment for the difference in wages. You can also continue to receive medical benefits for all healthcare costs related to your injury. If you're disabled, you can still receive disability benefits.
The maximum compensation rate for injuries on or after January 1, 2020 is 125% of the State Average Weekly Wage. Update for 2022: the state average weekly wage (SAWW) to $1,036.13. Provides that the maximum for injuries occurring July 1, 2022, through June 30, 2023, is $1295.16.