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.
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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 ?
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. States that the multiplier is 1.05298.
Regardless of your date of injury, if your incapacity is total, you may receive benefits for as long as you are unable to work.
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.