Maryland

The fiduciary is a resident fiduciary if the creator or grantor of the trust is a current resident of the State or the trust is principally administered in the State.

6.25% of Maryland taxable income of $600,001 through $1,200,000; and (x) 6.50% of Maryland taxable income in excess of $1,200,000.

In addition to the tax imposed under §10-104, for taxable years beginning on or after January 1, 2025, a surtax of 2% is imposed on the net capital gain of an individual whose federal adjusted gross income for the taxable year exceeds $350,000.

In addition to the tax imposed under §10-104, for taxable years beginning on or after January 1, 2025, a surtax of 2% is imposed on the net capital gain of an individual whose federal adjusted gross income for the taxable year exceeds $350,000.

Each county shall set, by ordinance or resolution, a county income tax equal to at least 2.25% but not more than 3.30% of an individual's Maryland taxable income for a taxable year beginning after December 31, 2001.

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

The addition under subsection (a) of this section includes interest or dividends, less related expenses, attributable to an obligation or security of: (1) another state; or (2) a political subdivision or authority of another state.

The addition under subsection (a) of this section includes interest or dividends, less related expenses, attributable to an obligation or security of: (1) another state; or (2) a political subdivision or authority of another state.

"Federal adjusted gross income" means: (1) for an individual other than a fiduciary, the individual's adjusted gross income as determined under the Internal Revenue Code.

"Federal adjusted gross income" means: (1) for an individual other than a fiduciary, the individual's adjusted gross income as determined under the Internal Revenue Code.

An individual may subtract from Maryland adjusted gross income amounts that are required to be subtracted by the laws of the United States.

6.25% of Maryland taxable income of $600,001 through $1,200,000; and (x) 6.50% of Maryland taxable income in excess of $1,200,000.

Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.

Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority.

The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

6.25% of Maryland taxable income of $600,001 through $1,200,000; and (x) 6.50% of Maryland taxable income in excess of $1,200,000.

the unified credit for Maryland estate tax purposes is $1,945,800 - the amount which effectively excludes the first $5.0 million of the taxable estate from tax

the unified credit for Maryland estate tax purposes is $1,945,800 - the amount which effectively excludes the first $5.0 million of the taxable estate from tax

direct or lineal heirs are exempt from inheritance tax

6.25% of Maryland taxable income of $600,001 through $1,200,000; and (x) 6.50% of Maryland taxable income in excess of $1,200,000.

The income tax does not apply to the income of: (1) a common trust fund, as defined in § 3-501(b) of the Financial Institutions Article

may elect to pay the tax imposed under paragraph (1) of this subsection with respect to the distributive shares or pro rata shares of all members

a rate equal to the sum of the rate of the tax imposed under § 10-106.1 of this subtitle and the top marginal State tax rate for individuals under § 10-105(a)

the tax is the top marginal state tax of 6.50% plus the lowest local income tax rate of 2.25% ... Line 7 - Individual tax Multiply the amount on line 6 by 8.75%.

a rate equal to the sum of the rate of the tax imposed under § 10-106.1 of this subtitle and the top marginal State tax rate for individuals under § 10-105(a)

Per Tax-General Article §10-102.1(e), each member may claim a credit against the tax imposed on the member for the member's proportionate share of the tax paid by the pass-through entity.