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Maryland tax help, forms and answers to thousands of Maryland tax questions. Handy summary of all Maryland taxes, 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).

Maryland State Tax Summary (TaxGrams ™)
Corporate Taxes
   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

Credits and Incentives
   Job Credits?: Y
   R&D Credits?: Y
   Investment Credits?: Y

Individual Taxes
   Rates & 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

Inheritance, Gift, Estate, Death Taxes
   Gift Tax?: N
   Estate Tax?: Decoupled
   Inheritance Tax?: N
   Generation-Skipping Tax?: N

Miscellaneous Taxes
   Gas Tax: 23.5 cents/gallon
   Diesel Tax: 24.3 cents/gallon
   Cigarette Tax: 200 cents/20 pack

Pass-through Entities
   LLC Pass-through Recognized?: Y
   S-Corp Pass-through Recognized?: Y

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

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)

Sales and Use Taxes
   State Rate: 6.00%
   County & City (Weighted Ave): None
   Combined State and Ave. Local Rates (Rank): 6.00% (#32)
   General Treatment of Services: Exempt
   Gas Exemption: Exempt
   Grocery Exemption: Exempt

 
 

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Maryland Tax Forms and Instructions popular

These forms have been formatted with a fill-in feature that allows you to type information into them on your computer and then print out a paper copy. In order to use the fill-in feature, you must have the Adobe Acrobat Reader which is available for free online.

http://business.marylandtaxes.com/taxforms/default.asp

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Maryland Administrative News

Includes various personal and business tax bulletins, along with "ReveNews," the Comptroller's official tax newsletter.

http://taxpros.marylandtaxes.com/publications/bulletins/default.asp

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Maryland Statutes

The Annotated Code of Maryland, minus the annotations (but with catchlines, history, titles, and index).

http://mlis.state.md.us/#stat

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Maryland: Voluntary Disclosure

The Comptroller's Office offers a voluntary disclosure program that allows businesses to voluntarily report and pay past due Maryland tax liabilities. The voluntary disclosure program applies only if we have not previously contacted you about the liability.

http://compnet.comp.state.md.us/Compliance_Division/Collections/Business_Taxes/Voluntary_Disclosure.shtml

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