Maryland
State Rundown 7/11: Mansion Taxes in the Spotlight
• By ITEP Staff
While Massachusetts legislators recently dropped a real estate transfer tax from their major housing bill, the District of Columbia council sent a budget to the mayor that includes a mansion tax that would increase the tax rate on properties valued over $2.5 million. Meanwhile, lawmakers in New Jersey and South Carolina continue to, respectively, raise and reduce needed revenues.
States Should Enact, Expand Mansion Taxes to Advance Fairness and Shared Prosperity
• By Carl Davis, Erika Frankel
The report was produced in partnership with the Center on Budget and Policy Priorities and co-authored by CBPP’s Deputy Director of State Policy Research Samantha Waxman.[1] Click here to use our State Mansion Tax Estimator A historically large share of the nation’s wealth is concentrated in the hands of a few, a reality glaring in […]
State Rundown 5/2: Vetoes and New Major Tax Proposals
• By ITEP Staff
This week, many states took steps toward enacting tax cuts...
These Three Local EITCs Are Boosting Family Incomes at Tax Time
• By Andrew Boardman
This tax season more than 800,000 households in New York City, Maryland's Montgomery County, and San Francisco are set to receive a boost through local refundable EITCs. These credits put dollars directly into the pockets of low-income households, equipping families with resources to better make ends meet and invest in their futures. In turn, they can help build stronger, fairer, and more resilient communities.
State Rundown 4/3: Some States Buck the Trend on Foolish Tax Policy
• By ITEP Staff
This week tax cuts were debated across the upper Midwest...
Five Things to Know About Tax Foundation’s Critique of Maryland’s Worldwide Combined Reporting Proposal
• By Carl Davis, Matthew Gardner
Maryland lawmakers are considering enacting worldwide combined reporting (WWCR), also known as complete reporting. This policy offers a more accurate, and less gameable, way to calculate the amount of profit subject to state corporate tax. Enacting WWCR in Maryland would represent a huge step toward eliminating state corporate tax avoidance as it neutralizes a wide […]
State Rundown 3/20: Investments Over Cuts
• By ITEP Staff
Over the past week Utah continued its slow march toward a more inequitable tax code...
States Move to Tax the Top in 2024
• By Marco Guzman, Miles Trinidad
These forward-thinking states are demonstrating the wide variety of options for policymakers who want to raise more from the wealthiest people, rein in corporate tax avoidance, create fair tax codes and build strong communities.
State Rundown 3/14: Sessions are Heating Up
• By ITEP Staff
Many state legislative sessions are in the final stretch...
Local Mansion Taxes: Building Stronger Communities with Progressive Taxes on High-Value Real Estate
• By Andrew Boardman
More than one dozen cities and counties levy progressive taxes on high-price real estate transactions — sometimes called mansion taxes — and over a dozen more are considering such policies. By asking buyers and sellers with greater financial means to contribute more to the common good, these policies are equipping communities with resources to make progress on critical challenges of local and national concern.
State Rundown 2/28: States Keep Busy While Washington Stalls
• By ITEP Staff
State legislative sessions are in full swing with New Jersey and Oklahoma both particularly active this week...
State Rundown 2/14: Our Love Language is Taxes
• By ITEP Staff
As many of you may know, we love taxes, along with the many great things they provide for our communities...
House SALT Proposal is Expensive, Unneeded, and Poorly Designed
• By Joe Hughes
The SALT Marriage Penalty Elimination Act passed by the House Rules Committee on February 1 is costly, decreasing tax revenue by about $8 billion in 2023. It also mostly only helps taxpayers who are already well off.
State Rundown 2/1: Black History Month Begins as Tax Debates Heat Up Nationwide
• By ITEP Staff
This week the showdown between the Kansas legislature and governor continued as Gov. Kelly vetoed the legislature’s latest attempt to pass a flat personal income tax. Elsewhere, the focus is on doing more for working families through proposals to expand refundable credits in Maryland and adding a millionaire tax bracket in Rhode Island. Meanwhile, there’s […]
State Tax Watch 2024
• By ITEP Staff
Updated July 15, 2024 In 2024, state lawmakers have a choice: advance tax policy that improves equity and helps communities thrive, or push tax policies that disproportionately benefit the wealthy, drain funding for critical public services, and make it harder for low-income and working families to get ahead. Despite worsening state fiscal conditions, we expect […]
State Rundown 1/18: State Tax Priorities Taking Shape in 2024
• By ITEP Staff
Tax policy themes have begun to crop up in states as governors give their yearly addresses and legislators lay out their plans for the 2024 legislative season...
Maryland: Who Pays? 7th Edition
• By ITEP Staff
Maryland Download PDF All figures and charts show 2024 tax law in Maryland, presented at 2023 income levels. Senior taxpayers are excluded for reasons detailed in the methodology. Our analysis includes nearly all (99.2 percent) state and local tax revenue collected in Maryland. State and local tax shares of family income Top 20% Income Group […]
State Rundown 1/4: New Year, New Opportunities, Same Tax Cut Proposals
• By ITEP Staff
The year may be new, but state lawmakers seem to have the same old resolution: slashing state income taxes...
State Rundown 12/14: Tax Policy Debates Ramp Up for 2024
• By ITEP Staff
Even as revenue collections slow in many states, some are starting the push for 2024 tax cuts early. For instance, policymakers in Georgia and Utah are already making the case for deeper income tax cuts. Meanwhile, Arizona lawmakers are now facing a significant deficit, the consequence of their recent top-heavy tax cuts. There is another […]
The Estate Tax is Irrelevant to More Than 99 Percent of Americans
• By Steve Wamhoff
The federal estate tax has reached historic lows. In 2019, only 8 of every 10,000 people who died left an estate large enough to trigger the tax. Legislative changes under presidents of both parties have increased the basic exemption from the estate tax over the past 20 years. This has cut the share of adults leaving behind taxable estates down from more than 2 percent to well under 1 percent.
Hidden in Plain Sight: Race and Tax Policy in 2023 State Legislative Sessions
• By Brakeyshia Samms
Race was front and center in a lot of state policy debates this year, from battles over what’s being taught in schools to disagreements over new voting laws. Less visible, but also extremely important, were the racial implications of tax policy changes. What states accomplished this year – both good and bad – will acutely affect people and families of color.
Abortion-Restricting States Skimp on Funding for Children
• By Amy Hanauer
States differ dramatically in how much they allow families to make choices about whether and when to have children and how much support they provide when families do. But there is a clear pattern: the states that compel childbirth spend less to help children once they are born.
State Rundown 11/8: Election Results Bring Victories, Opportunities for More Common-Sense Tax Reform
• By ITEP Staff
Voters had the chance to impact tax policy across the country on election day, and some chose to enact common-sense reforms to raise revenue...
New from ITEP: Three Localities Are Leading the Way on Local EITCs
• By ITEP Staff
Refundable local EITCs improve the economic security of workers, families, and children. These credits put dollars directly into the pockets of financially vulnerable households, helping them afford the basics and achieve better health and economic outcomes.
Three Localities are Boosting Communities with Refundable EITCs; Others Should Follow Suit
• By Kamolika Das
Most states already offer their own Earned Income Tax Credits, typically matching a certain percentage of residents’ federal EITC, but this is still a rarity among localities.
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