{"id":194,"date":"2012-06-29T21:31:26","date_gmt":"2012-06-29T21:31:26","guid":{"rendered":"http:\/\/www.websitefix.net\/clients\/Generic\/?page_id=194"},"modified":"2018-11-06T18:51:00","modified_gmt":"2018-11-06T18:51:00","slug":"state-tax-system","status":"publish","type":"page","link":"https:\/\/www.sunraydirect.com\/EasternMD3\/?page_id=194","title":{"rendered":"State Tax System"},"content":{"rendered":"

TAX & LICENSE \/ STATE TAX SYSTEM<\/strong><\/p>\n

State Income Tax
\n<\/strong>Taxable income for Maryland is generally calculated in the same way as the federal income tax and must be filed by April 15. The state\u2019s graduated income tax is imposed at the following rates:
\n*\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2% on the first $1,000 of taxable income
\n*\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3% of the second $1,000
\n*\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4% on the third $1,000
\n*\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5% on taxable income over $3,000
\n*\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6% on taxable income over $100,000<\/p>\n

\u00a0<\/strong><\/p>\n

Retail Sales Tax<\/strong>
\nThe State of Maryland imposes sales and use taxes of 5 percent on tangible personal property, lodging, accommodations and special order production. Exemptions include medicine and medical supplies, grocery items, items purchased for resale, and certain machinery and vehicles used for manufacturing and agriculture.<\/p>\n

\u00a0<\/strong><\/p>\n

Alcohol and Tobacco Taxes
\n<\/strong>The Maryland excise tax rates on alcoholic beverages are $1.50 per gallon of distilled spirits, $.40 per gallon of wine, and $.09 per gallon of beer. The tobacco tax rate is $.36 per pack of 20 cigarettes.<\/p>\n

\u00a0<\/strong><\/p>\n

Property Tax
\n<\/strong>Real property is assessed at approximately 40 percent of fair market value. The state tax rate is $.21 per $100 of assessed value. Maryland\u2019s assessment system is based on a three-year cycle where one-third of all taxable real property is reviewed every year. Under this Triennial Assessment Law, owners only receive an assessment notice every three years.<\/p>\n

County Tax and Finance Office<\/strong><\/p>\n

Kent County
\n<\/strong>410-778-7478
\nwww.kentcounty.com<\/a><\/p>\n

Queen Anne\u2019s County
\n<\/strong>410-758-4098
\nwww.qac.org<\/a><\/p>\n

Dorchester County
\n<\/strong>410-228-7291
\nwww.dorchestercountymd.com<\/a><\/p>\n

Caroline County<\/strong>
\n410-479-0410
\nwww.carolinemd.org<\/a><\/p>\n

Wicomico County
\n<\/strong>410-548-4840
\nwww.wicomicocounty.org<\/a><\/p>\n

Somerset County
\n<\/strong>410-651-0440
\nwww.somersetmd.us<\/a>
\nWorcester County
\n<\/strong>410-632-1194
\nwww.co.worcester.md.us<\/a><\/p>\n

Talbot<\/strong> County
\n<\/strong>410-819-5920
\nwww.talbotcountymd.gov<\/a><\/p>\n

 <\/p>\n

Homestead Exemption
\n<\/strong>Property tax credit is available to those who are100 percent disabled veterans or 100 percent blind. A credit is allowed to homeowners who earn up to $36,000, elderly or disabled homeowners and also renters.<\/p>\n

\u00a0<\/strong><\/p>\n

Inheritance and Estate Taxes
\n<\/strong>An inheritance tax is imposed on the beneficiary\u2019s right to receive property distributed by will or by state law. Jointly owned property passing to a surviving spouse and the proceeds from insurance policies paid to another beneficiary are not subject to the inheritance tax. The rate is 1 percent on inheritances to direct descendants and the surviving spouse and 10 percent to other beneficiaries. Estate Tax is calculated by deducting the amount of the inheritance tax paid to the Registrar of Wills from the credit for state death taxes allowed on the Federal Estate Tax return.<\/p>\n

\u00a0<\/strong><\/p>\n

Maryland Tax Information<\/strong><\/p>\n

Department of Assessments and Taxation<\/strong>
\n301 West Preston Street, Room 806
\nBaltimore 410-767-1184
\nToll Free 877-634-6361
\nhttp:\/\/dat.maryland.gov<\/a><\/p>\n

Department of Comptroller<\/strong>
\n800-MD-TAXES
\nRefund Status 800-218-8160
\nwww.marylandtaxes.gov<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

TAX & LICENSE \/ STATE TAX SYSTEM State Income Tax Taxable income for Maryland is generally calculated in the same way as the federal income tax and must be filed by April 15. The state\u2019s graduated income tax is imposed at the following rates: *\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2% on the first $1,000 of taxable income *\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3% […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.sunraydirect.com\/EasternMD3\/index.php?rest_route=\/wp\/v2\/pages\/194"}],"collection":[{"href":"https:\/\/www.sunraydirect.com\/EasternMD3\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.sunraydirect.com\/EasternMD3\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.sunraydirect.com\/EasternMD3\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sunraydirect.com\/EasternMD3\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=194"}],"version-history":[{"count":5,"href":"https:\/\/www.sunraydirect.com\/EasternMD3\/index.php?rest_route=\/wp\/v2\/pages\/194\/revisions"}],"predecessor-version":[{"id":573,"href":"https:\/\/www.sunraydirect.com\/EasternMD3\/index.php?rest_route=\/wp\/v2\/pages\/194\/revisions\/573"}],"wp:attachment":[{"href":"https:\/\/www.sunraydirect.com\/EasternMD3\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}