Maryland SB 1004 - “Millionaire’s Tax” of 2008

Maryland SB 1004 - “Millionaire’s Tax” of 2008

This legislation, passed in 2007 and in 2008, raised income tax rates on Maryland millionaires to 6.25 percent. Those with taxable incomes above $150,000 or families with incomes over $200,000 experienced a tax increase as well.

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