Tag: Henry Bogdan

Progressive, nonprofits push for permanent “millionaires’ tax”

Several tax watchdogs and policy analysts concerned about the state of Maryland’s economy and buoyed by a new report urged delegates to revisit a just-expired method of raising more money — extending the tax surcharge on millionaires.

Enacted in 2008, the “millionaires’ tax” taxes all net income above $1 million at a rate of 6.25%. The base tax rate for everything less than $1 million is 5.5%. The surcharge passed in 2008 to replace the sales tax on computer services was to last only three years, expiring at the end of 2010.

Read More
Loading

Support Our Work!

We depend on your support. A generous gift in any amount helps us continue to bring you this service.

VOTING

What should be the first priority of Gov-Elect Wes Moore?
×

Facebook