Key Votes
SB 523 - Increases State Income Tax Rates - Key Vote
Maryland Key Votes
Stages
- March 23, 2012 Senate Nonconcurrence Vote Passed
- March 20, 2012 House Bill Passed
- March 15, 2012 Senate Bill Passed
- Feb. 3, 2012 Introduced
Family
Issues
Stage Details
Legislation - Nonconcurrence Vote Passed (Senate) - March 23, 2012
Legislation - Bill Passed (House) (81-56) - March 20, 2012
Legislation - Bill Passed (Senate) (26-20) - March 15, 2012 (Key vote)
Title: Increases State Income Tax Rates
Vote Smart's Synopsis:
Vote to pass a bill that increases the state income tax rate for certain taxpayers.
Highlights:
- Increases state income tax rates for individuals as follows (Sec. 1):
- From 4.75 percent to 4.9 percent for taxpayers with a state taxable income of $3,001 through $25,000;
- From 4.75 percent to 4.95 percent for taxpayers with a state taxable income of $25,001 through $75,000;
- From 4.75 percent to 5 percent for taxpayers with a state taxable income of $75,001 through $150,000;
- From 5 percent to 5.25 percent for taxpayers with a state taxable income of $150,001 through $300,000;
- From 5.25 percent to 5.5 percent for taxpayers with a state taxable income of $300,001 through $500,000; and
- From 5.5 percent to 5.75 percent for taxpayers with a state taxable income of $500,000 through $1 million.
- Increases state income tax rates for married individuals filing jointly as follows (Sec. 1):
- From 4.75 percent to 4.9 percent for taxpayers with a state taxable income of $3,001 through $50,000;
- From 4.75 percent to 4.95 percent for taxpayers with a state taxable income of $50,001 through $100,000;
- From 4.75 percent to 5 percent for taxpayers with a state taxable income of $100,001 through $200,000;
- From 5 percent to 5.25 percent for taxpayers with a state taxable income of $200,001 through $350,000;
- From 5.25 percent to 5.5 percent for taxpayers with a state taxable income of $350,001 through $500,000; and
- From 5.5 percent to 5.75 percent for taxpayers with a state taxable income of $500,000 through $1 million.
- Reduces the state income tax rate for taxpayers with a state taxable income of $1 million or more from 6.25 percent to 5.75 percent for both individual taxpayers and married taxpayers filing jointly (Sec. 1).
Legislation - Introduced (Senate) - Feb. 3, 2012
Title: Increases State Income Tax Rates
Sponsors
- Roger Manno (MD - D) (Out Of Office)
