Key Details of the Maine SLRTC (also called Opportunity Maine and previously Educational Opportunity Tax Credit (EOTC):

• Eligibility: Must be a Maine resident with an associate, bachelor’s, or graduate degree from an accredited institution.
• Credit Amount: Up to $2,500 per year, which is refundable, meaning it can reduce your tax liability to zero and result in a refund.
• How to Claim: Complete the Student Loan Repayment Tax Credit Worksheet 99 (Form 1040ME) and submit it with your state tax return.
• Documentation: First-time applicants must provide a copy of their college transcript and documentation of loans and payments.