Saturday, June 30, 2012
New Fiscal Year Means Tax Hikes In Maryland
Maryland residents who earn more than $100,000 annually will pay more income taxes and many will pay higher fees to flush their toilets under new laws taking effect this weekend.
Under the income-tax law, single taxpayers with an adjusted gross income above $100,000 and couples who make more than $150,000 will see their taxes rise from a quarter of a percentage point to half a percentage point. The tax increases will be retroactive to January.
The state's "flush" tax on sewer bills will double from $2.50 a month to $5 a month - or from $30 to $60 annually under a measure aimed at upgrading wastewater treatment facilities to reduce pollution in the Chesapeake Bay. The law exempts people who don't live in the Chesapeake Bay watershed. Gov. Martin O'Malley, a Democrat, led the charge to boost the tax.
at 6/30/2012 03:00:00 PM