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(s)?

8.25%

What is the Maryland personal net income tax rate(s)?

There are also a lot of local income taxes with a average rate of 3%

What is the average Maryland sales tax rate(s)?

6%

Are there standard deductions?

Single:  $2,000.00
Joint:  $4,000.00

Are there personal exemptions?

Single:  $3200.00
Dependants:  $3200.00

What forms do you file for your Maryland taxes?

C corporations:   Form 500
S Corporations:  Form MD 510
Partnerships:  Form MD 510
Individual:  Form MD 502, and MD 505 for non-residents of Maryland

Estimated tax payments?

Form 500D for corporations with more than $1000.00 of tax liability. Maryland follows the IRS standards for estimated payments. If you will owe $500.00 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:

If you use Northwest Registered Agent as your registered agent, you'll have an online account to track your company in, receive notification reminders to file your annual reports on time, annual tax reminders, and new State information reminders. All for a low annual flat rate fee of $125.00 a year. We also help incorporate new Maryland businesses for only $100.00.