Monday saw final passage of Maryland's $67 billion budget that contains $1.6 billion in tax and fee increases in an effort to close a $3.3 billion deficit. The final approval came after a panel of House and Senate negotiators reconciled differences between the chambers' budget plans Friday night. The budget includes two new tax brackets for high-income residents, one for people who make over $500,000 annually and another for those with more than $1 million in annual income. Budget negotiators also put enabling legislation to allow local jurisdictions to impose a 0.1% piggyback tax on income. The budget also includes a new 3% tax in information technology services; quantum computing is exempt, but only in College Park. And, there is a new 2% tax on capital gains for people with income over $350,000, as well as tax hikes on recreational cannabis and sports wagering.
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Дата на публикация: 8 април, 2025
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