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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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.
The compensation rate equals 2/3 of your average weekly wage. Compensation rates vary depending on dates of injury. Information about maximum compensation rates can be found under ?ITEMS OF INTEREST? on the Workers' Compensation Board's website.
The good news is no, you do not lose your benefits if you are fired. Your workers' compensation benefits do not end whether your employer has fired you or laid you off. The law requires that you continue to receive wage loss payments and medical benefits through your former employers' insurance company.
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 ?
Regardless of your date of injury, if your incapacity is total, you may receive benefits for as long as you are unable to work.