In case you live in Maryland, just like any other state you must be equipped with the right knowledge and documents to file your taxes well within the time and that too accurately enough else you shall get in to the unwanted legal hassles.
Here are some key features of the Income Taxes in Maryland: 1.
In order to file the taxes correctly first of all you must know the due date.
For Maryland Income taxes, unlike rest of the states the due date is April 17, when you are filing as per the normal calendar year.
For the rest of the states the date is April 15.
2.
Just like all other states if the due date happens to be a Saturday or Sunday or some legal holiday, the tax return would be filed the very next business day.
3.
The state of Maryland also allows some extension period if needed.
4.
The happier point is that Maryland Income Taxes are considerably low.
Income Tax rate at Maryland for those who are there but are not the residents of Maryland is set at mere 4.
75%.
For those who are not the residents but are able to get the special non-resident tax rate, the rate is set at 1.
25% additional to 4.
75% mentioned earlier, that makes it equal to 6%.
5.
The Maryland Income Taxes allow for a variety of exemptions.
In case you qualify for any of them, each exemption gets you $4200.
Some of these exemptions are blindness, age, military or part-time residents and non residence.
6.
Just like tax systems in other states, filing the Maryland Income Taxes requires many conditions to be met.
7.
The primary condition is that you must be a resident of Maryland.
8.
Next, your income must be equal or higher than the minimum amount prescribed by law.
This prescribed amount is different for each individual depending on several factors.
9.
The requirement minimums are only based on the way you file your taxes.
The examples of determining factors are married or single, head of household, widower, etc.
10.
The minimum for any and all the categories is $ 3,300 that implies to ones who are married but are filing separately.
11.
While filing your taxes the key question where you initialize the filing is the format of filing the taxes.
Some of the options available to you are filing booklet and then mailing it, through internet that is e-filing.
12.
Another knowledge that you must have is the forms that are required to be filled in.
These forms vary for each person.
For this factor, e-filing would be 100% correct as the forms would be generated automatically.