Zoom Calls Not a Taxing Matter
Zoom Video Communications announced that, come November, the company will start collecting and remitting local utility and communications taxes in California, New York, Maryland, and Virginia.
5 min read
Maryland Tax Rates, Collections, and Burdens
How does Maryland’s tax code compare? Maryland has a graduated state individual income tax, with rates ranging from 2.00 percent to 5.75 percent. There are also jurisdictions that collect local income taxes. Maryland has an 8.25 percent corporate income tax rate. Maryland also has a 6.00 percent state sales tax rate and does not have local sales taxes. Maryland has a 0.95 percent effective property tax rate on owner-occupied housing value.
Maryland has both an estate tax and an inheritance tax. Maryland has a 47.2 cents per gallon gas tax rate and a $3.75 cigarette excise tax rate. Maryland collects $7,248 in state and local tax collections per capita. Maryland has $10,269 in state and local debt per capita and has an 81 percent funded ratio of public pension plans. Overall, Maryland’s tax system ranks 45th on our 2024 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Maryland is no exception. The first step towards understanding Maryland’s tax code is knowing the basics. How does Maryland collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures 2024: How Does Your State Compare?
Tax Data by State
Get facts about taxes in your state and around the U.S.
State Tax Data
Individual Taxes
Business Taxes
Sales Taxes
All Related Articles
2021 State Business Tax Climate Index
166 min read
Top Rates in Each State Under Joe Biden’s Tax Plan
President Joe Biden’s tax plan would yield combined top marginal state and local rates in excess of 60 percent in three states: California, Hawaii, and New Jersey (also New York City).
4 min read
Maryland Lawmakers Look to Alcohol for New Revenue
While there are legitimate reasons for increasing and levying excise taxes, legislatures should proceed with caution in the aftermath of the pandemic. Importantly, revenue from increased excise taxes should generally be allocated to spending related to the negative externalities as that revenue is too volatile and unreliable to rely on for long-term budget priorities.
3 min read
New Census Data Shows States Beat Revenue Expectations in FY 2020
State tax revenue collections were down 5.5 percent in FY 2020, driven by a dismal final quarter (April through June) as states began to feel the impact of the COVID-19 pandemic. While these early losses are certainly not desirable, they are manageable and far better than many feared.
16 min read
State Tax Changes Effective July 1, 2020
Nineteen states had notable tax changes take effect on July 1, 2020. Pandemic-shortened sessions contributed to less—and different—activity on the tax front than is seen in most years, and will likely yield an unusually active summer and autumn, with many legislatures considering new measures during special sessions.
12 min read
Gov. Hogan Vetoes Maryland Digital Advertising Tax Legislation
Gov. Hogan vetoed a proposed first-in-the-nation digital advertising tax that would have imposed rates of up to 10 percent on digital advertising served to Marylanders.
3 min read
April 24th Afternoon State Tax Update
Virginia enacted a biennial budget, which includes a new excise tax on “skill games.” Meanwhile, Arizona and Connecticut announced plans to convene in special sessions later this year while Oklahoma gets the green light to use rainy day fund money to close budget gaps.
4 min read
April 10th Afternoon State Tax Update
California extends tax filing and payment deadline to July 31 for a broad spectrum of business taxes as Virginia keeps May 1st tax filing deadline.
5 min read
A Visual Guide to Unemployment Benefit Claims
Another 1.4 million Americans filed initial regular unemployment benefit claims, the eleventh week of a decline in the rate of new claims, but still among the highest levels in U.S. history. The total number of new and continued claims now stands at 19.3 million, a marked decline from the peak of 24.9 million a month ago.
7 min read