We study an interesting class of Banach function algebras of innitely dierentiable functions onperfect, compact plane sets. These algebras were introduced by Honary and Mahyar in 1999, calledLipschitz algebras of innitely dierentiable functions and denoted by Lip(X;M; ), where X is aperfect, compact plane set, M = fMng1n=0 is a sequence of positive numbers such that M0 = 1 and(m+n)!Mm+n ( m!Mm)( n!Mn) for m; n 2 N [ f0g and 2 (0; 1]. Let d = lim sup( n!Mn)1n and Xd = fz 2 C :dist(z;X) dg. Let LipP;d(X;M; )[LipR;d(X;M; )] be the subalgebra of all f 2 Lip(X;M; )that can be approximated by the restriction to Xd of polynomials [rational functions with poles oXd]. We show that the maximal ideal space of LipP;d(X;M; ) is cXd, the polynomially convex hullof Xd, and the maximal ideal space of LipR;d(X;M; ) is Xd, for certain compact plane sets.. Usingsome formulae from combinatorial analysis, we nd the maximal ideal space of certain subalgebrasof Lipschitz algebras of innitely dierentiable functions.