Maryland Comptroller, Maryland SDAT, Maryland Tax
Maryland Business Corporate Tax, Maryland Personal Income Tax, Maryland Sales Tax Rates
What is the Maryland corporate net income tax rate?
8.25%
What are the Maryland personal net income tax rates?
| 0-1,000 | 2% |
| 1,000-2,000 | 3% |
| 2,000-3,000 | 4% |
| 3,000-150,000 | 4.75% |
| 150,000-300,000 | 5% |
| 300,000-500,000 | 5.25% |
| 500,000-1 million | 5.5% |
| 1 million + | 6.25% |
There are also a lot of local income taxes with an average rate of 3%.
What is the average Maryland sales tax rate?
6%
Are there standard deductions?
Single: $2,000
Joint: $4,000
Are there personal exemptions?
Single: $3200
Dependants: $3200
What forms do you file for your Maryland taxes?
Maryland corporations: Form 500
S corporations: Form MD 510
Partnerships: Form MD 510
Individual: Form MD 502, and MD 505 for non-residents of Maryland
To learn more about nonprofit filings, see our Maryland nonprofit corporation page.
Estimated tax payments?
Form 500D for corporations with more than $1000 of tax liability. Maryland follows the IRS standards for estimated payments. If you will owe $500 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won’t make as much in the current year. You make Maryland estimated tax payments with form 502D.
Maryland Department of Revenue:
Maryland Comptroller
Revenue Administration Center
80 Calvert Street
Annapolis, MD 21404
Telephone: 800-638-2937 or 410-260-7980
Website: Maryland Comptroller
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