Taxes

2009 State & Local Taxes

State Corporate Income Tax
8.25%

State Personal Income Tax
6.25%

Local Personal Income Tax
3.05% of taxable income

State Sales and Use Tax
6%

2009 State & Local Taxes

LOCAL

STATE

Real Property Tax Rate per $100 *

$2.268

$0.1112

Business Personal Property Tax Rate(based on depreciated value) **

$5.67

$0.000

R&D Machinery, equipment, materials and supplies

Exempt

Exempt

Manufacturing machinery, equipment, materials and supplies

Exempt

Exempt

Manufacturing/R&D inventory

Exempt

Exempt

Warehousing Inventory

Exempt

Exempt

* Real property in MD is appraised at market value and taxed on assessed value. The assessment was recently changed to full value, or 100 percent of market value. Both local and state real property taxes are applied to assessed value.
** Taxes are levied on the depreciated value of business personal property, which for most property is 10% annually to a minimum of 25% of the original cost.