Maryland Tax FAQs

• taxmOuth Maryland Tax FAQs

Maryland Tax Forms

• taxmOuth 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

• taxmOuth Maryland Tax Credits
• Job Credits?: Y
• R&D Credits?: Y
• Investment Credits?: Y

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

• taxmOuth Maryland Estate and Gift Taxes
• Gift Tax?: N
• Estate Tax?: Decoupled
• Inheritance Tax?: N
• Generation-Skipping Tax?: N

Maryland Miscellaneous Taxes

• taxmOuth Maryland Miscellaneous Taxes
• Gas Tax: 23.5 cents/gallon
• Diesel Tax: 24.3 cents/gallon
• Cigarette Tax: 200.0 cents/20 pack

Maryland Pass-through Tax Treatment

• taxmOuth Maryland Pass-through Entity Tax
• LLC Pass-through Recognized?: Y
• S-Corp Pass-through Recognized?: Y

Maryland Payroll Taxes

• taxmOuth Maryland Payroll Taxes
• Unemployment Insurance Tax Index (TaxFoundation.org): #37

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