Maryland SB382 provides a state income tax credit for eligible taxpayers based on age and income level.

Maryland SB382, the Retire in Maryland Tax Relief Act, introduces a state income tax credit for eligible taxpayers. The credit percentage varies based on age and filing status, ranging from 25% to 100% of the state income tax. Eligible taxpayers must be residents who meet specific age and income criteria. The credit cannot exceed the state income tax for the year, and unused credits cannot be carried over. The Act applies to taxable years beginning after December 31, 2025.

Maryland SB382 provides a state income tax credit for eligible taxpayers based on age and income level.

Maryland SB382, the Retire in Maryland Tax Relief Act, introduces a state income tax credit for eligible taxpayers. The credit percentage varies based on age and filing status, ranging from 25% to 100% of the state income tax. Eligible taxpayers must be residents who meet specific age and income criteria. The credit cannot exceed the state income tax for the year, and unused credits cannot be carried over. The Act applies to taxable years beginning after December 31, 2025.