Maryland Reports & Information

NEWS & MEDIA


The Latest News from CTJ's Tax Justice Blog

Maryland
By the Numbers

Maryland Below is a snapshot of key features of Maryland's tax system. (Scroll Down)
State & Local Revenue (FY10)
  • General Revenue, Own-Source (GROS): $37.3 billion
  • General Revenue as a Share of Income: 13.5%
  • Tax Revenue: $28.1 billion
  • Tax Revenue as Share of income: 10.1%
  • Personal Income Tax (Share of Tax Revenue): 35.6% (2 out of 51)
  • Corporate Income Tax (Share of Tax Revenue): 3.2 % ( 18 out of 51)
  • Sales & Excise Tax (Share of Tax Revenue): 24.4 % ( 44 out of 51)
  • Property Tax (Share of Tax Revenue): 30.1 % ( 35 out of 51)
  • Other Taxes (Share of Tax Revenue): 5.2 % (25 out of 51)
Personal Income Tax Features (2012)
  • Range of Tax Rates: 2.0% - 5.75%
  • Standard Deduction: $1,500-$2,000 ($3,000-$4,000 for Married Couples)
  • Personal Exemption: $3,200
  • Dependent Exemption: $3,200
  • Earned Income Tax Credit (EITC): 25% Refundable / 50% Nonrefundable
  • Personal exemption phases out for high income levels
  • Offers low-income credit designed to offset personal income taxes
Corporate Income Tax Features (2012)
  • Range of Tax Rates: 8.25%
  • Income Level at Which Top Rate Applies: All
  • Combined Reporting: No
  • Apportionment Factor (Payroll): 0%
  • Apportionment Factor (Property): 0%
  • Apportionment Factor (Sales): 100%
  • Apportionment Note: Certain corporations (including manufacturers) use specified formula; all others use double weighted sales formula
Sales Tax Features (2012)
  • State Sales Tax Rate: 6.00%
  • Average Local Sales Tax Rate: N/A
  • Average Combined State & Local Sales Tax Rate: 6.00%
  • State Sales Tax Treatment of Groceries: Exempt
  • Local Sales Tax Treatment of Groceries: N/A
  • Number of Services Taxed: 39 out of 168 surveyed (2007)
  • Streamlined Sales Tax Membership: No
  • Sales tax holiday offered in 2013
Property Tax Features (2012)
  • Provides a circuit breaker for homeowners and renters of all ages
  • Provides for local option caps on assessed value growth.
Other Tax & Revenue Features (2012)
  • Gasoline Tax Rate (per gallon): $0.270
  • Diesel Tax Rate (per gallon): $0.2775
  • Cigarette Tax Rate (per pack): $2.00
  • Estate or Inheritance Tax: Yes
  • Net Lottery Sales Per Capita: $276 (2010)
Tax Policy Oversight
  • Tax Expenditure Report: Yes
  • Tax Incidence Analysis Capability: Personal income tax only

Last Updated October 4, 2012

Sources & Glossary