Browsing the "Taxes" Category

Marylanders get so-so return on tax investment, study says

April 28th, 2014 | by Len Lazarick

Marylanders spend within their means and get a decent return on investment when comparing taxes and quality of government services, a personal finance website has found. ranked Maryland first in the country for residents with the most sustainable spending habits, and ranked the state at an unremarkable 33rd when it comes to return on investment for state taxpayers

Extra tax break for ‘House of Cards’ folds in final hour

April 8th, 2014 | by Jeremy Bauer-Wolf

Six lawmakers, three from each chamber of the Maryland General Assembly, standing in a ring in the House of Delegates lounge at a half hour before midnight, vehemently haggling over a single bill. They had only 30 minutes before the close of the 2014 session, and they needed to find middle ground on legislation that would grant the popular Netflix drama an additional $3.5 million in tax dollars

Spacey and friends at Annapolis reception to boost film tax break

March 23rd, 2014 | by Len Lazarick

What could guarantee better media coverage than a reception with a major celebrity closed to reporters, who gathered outside the Red Red Wine Bar in Annapolis as actor Kevin Spacey was ushered in the back door? Maryland legislators and friends couldn't resist posting pictures of themselves with "House of Cards" star Spacey on Facebook

Cut in estate tax sent to governor, who will likely sign it

March 20th, 2014 | by Jeremy Bauer-Wolf

In an effort to ensure Maryland’s millionaires don’t flee the state for cheaper pastures, the General Assembly approved Thursday a cut to the state’s estate tax. After spirited debate and a 36-10 vote from the Senate, the bill was sent to Gov. Martin O’Malley, who is likely to sign the bill

Miller ‘reluctantly’ supports estate tax cut he’s sponsoring

March 19th, 2014 | by Jeremy Bauer-Wolf

Though he’s listed as chief sponsor of a bill that would cut Maryland’s estate tax, Senate President Mike Miller said Wednesday he only “reluctantly” supports his legislation, and its House equivalent, which delegates passed last week. But, Miller said, it is important to keep Maryland’s rate competitive to those of other states

House votes to cut taxes on the wealthiest dead

March 9th, 2014 | by Len Lazarick

The House of Delegates overwhelmingly approved a tax cut in Friday’s session that would benefit Maryland’s millionaires after they die. In a 120-13 vote, the House voted to exempt more assets from the estate tax, which taxes a property of a deceased individual if it’s valued at $1 million

Assembly leaders back cutting estate taxes, but opponents knock break for wealthy

March 5th, 2014 | by Jeremy Bauer-Wolf

General Assembly leaders say they are fearful wealthy Maryland residents are moving out of state because of Maryland’s high estate tax and are promoting legislation that would cut the “death tax” Maryland imposes a tax when property is transferred from the deceased to a living relative, if that property is valued at more than $1 million -- the tax caps at 16% of the entire estate

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