Ch. 2

LAWS OF MARYLAND

(1)  2% OF MARYLAND TAXABLE INCOME OF $1 THROUGH
$1,000;

(2)  3% OF MARYLAND TAXABLE INCOME OF $1,001 THROUGH
$2,000;

(3)  4% OF MARYLAND TAXABLE INCOME OF $2,001 THROUGH
$3,000; AND

(4)  5% OF MARYLAND TAXABLE INCOME IN EXCESS OF
$3,000.

(B) CORPORATION.

THE STATE INCOME TAX RATE FOR A CORPORATION IS 7% OF
MARYLAND TAXABLE INCOME.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second sentence of
former Art. 81, § 288(a) and the tax rate provisions
of (b) and of the first sentence of (c).

Subsection (a) of this section is revised to set out
the dollar range of Maryland taxable income to which a
specific percentage applies, for emphasis and clarity.

In subsections (a) and (b) of this section, the
defined term "State income tax" is substituted for the
former references to "such portion thereof as is
allocable to this State under the provisions of § 316
hereof", for brevity. As to individuals, the county
income tax rate is set under § 10-106 of this
subtitle.

Also in subsections (a), and (b) of this section, the
defined term "Maryland taxable income" is substituted

for the former words "taxable income" and "net
income", for clarity.

In subsection (b) of this section, the total figure
"7%" is substituted for the former specific rates of
tax for a corporation of "6 1/4%" and "0.75%", for
clarity. The imposition and rates as to corporations
formerly were set out separately to specify the amount
to be disbursed to the Transportation Trust Fund.
Separate disbursements appear in Title 2 of this
article.

Defined terms: "Corporation" § 10-101
"Individual" § 10-101
"Maryland taxable income" § 10-101
"State income tax" § 10-101

10-106. COUNTY INCOME TAX RATE.

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