2010 TaxGrams™
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State and Local Taxes
Maryland State Tax Summary

Maryland state tax summary, including corporate and individual Maryland income taxes, credits, exemptions, deductions and more. Includes Maryland estate, gift and inheritance tax, miscellaneous Maryland taxes, pass-through entity treatment, payroll taxes, property taxes and Maryland sales & use taxes.

Maryland ranks #45 on the State Business Tax Climate Index (TaxFoundation.org).

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    taxmOuth Maryland Taxes

Maryland Tax FAQs

Maryland Tax Forms

Maryland Corporate Taxes

  • taxmOuth Maryland Corporate Taxes
  • Maryland Tax Rates & Brackets:

    8.25%> $0
  • Loss Carry-back/fwd: 2 Years Back / 20 Years Forward (Unlimited)
  • Throwback Sales?: N
  • Foreign Tax Deductible?: Y
  • Alternative Minimum Tax (AMT): N
  • Gross Receipts Tax: N
  • Capital Stock (Net Worth) Tax?: N

Maryland Tax Incentives and Credits

Maryland Individual Income Taxes

  • taxmOuth Maryland Individual Income Taxes
  • Maryland tax rates and brackets:

    2%> $0
    3%> $1,000
    4%> $2,000
    4.75%> $3,000
    5%> $150,000
    5.25%> $300,000
    5.5%> $500,000
    6.25%> $1,000,000
  • Local Option IT Rate: 2.98%
  • Federal Inc used as Base?: Y
  • Standard Deductions: 15% of income; $1,500 min.; max. is Single $2,000 / Joint $4,000
  • Personal Exemptions/Credits (c): Single $3,200 / Joint $6,400 / Dependent $3,200
  • Federal Tax Deductible?: N
  • State Tax Deductible?: Y
  • Alternative Minimum Tax (AMT)?: Y

Maryland Estate, Gift and Inheritance Taxes

Maryland Miscellaneous Taxes

Maryland Pass-through Tax Treatment

Maryland Payroll Taxes

Maryland Property Taxes

  • taxmOuth Maryland Property Taxes
  • Median Tax Paid on Homes (Rank): $2,612 (#11)
  • Median Value of Homes: $341,200
  • Tax as % of Home Value (Rank): 0.77% (#29)
  • Median Income of Homeowner: $86,373
  • Tax as % of Income (Rank): 3.02% (#19)

Maryland Sales and Use Taxes

  • taxmOuth Maryland Sales and Use Taxes
  • State Rate: 6.0%
  • County & City (Weighted Ave): None
  • Combined State and Ave. Local Rates (Rank): 6.00% (#32)
  • General Treatment of Services: Exempt
  • Gasoline: Exempt
  • Groceries: Exempt

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