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Governor's income tax overhaul would raise top rates, double standard deduction and add 1% capital‑gains surcharge for four years
Summary
Department of Legislative Services outlined the governor's proposed income tax changes: a larger standard deduction, elimination of state itemized deductions, modest rate reductions in middle brackets, two new top brackets, and a 1% capital gains surcharge for high‑income filers for four years.
Dave Romans, Department of Legislative Services staff, told the House Environment and Transportation Committee that the governor's proposed income tax package includes multiple layered changes that affect different income groups.
Romans said the plan would double Maryland's standard deduction (to $5,600 for single filers and $11,200 for joint filers) and eliminate the option to itemize on state returns. "You can still itemize in your federal taxes if you so choose," Romans said, adding that roughly 23 percent of Maryland taxpayers currently itemize on their federal returns and the change will affect that smaller group on their Maryland liability.
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