where can buy turbotax 2016 in columbia md

Taxpayers making a contribution to the Maryland Prepaid College Trust or the Maryland Broker-Dealer Investment Plan may claim a deduction of up to $2,500 per year (extra contributions may be carried over to subsequent years). For joint filers or heads of household, the exemption is $3,200 up to $150,000 in income, $1,600 from $150,000 to $175,000, $800 up to $200,000 and $0 beyond that.Īdditionally, there are a number of deductions and credits available to taxpayers in Maryland. For single filers with income between $100,000 and $125,000, the exemption falls to $1,600 from $125,000 to $150,000 it falls to $800 and for single filers with AGI greater than $150,000 there is no exemption. While the number of personal exemptions in Maryland will equal the number of exemptions on your federal tax return, the exemption amount is different.įor single filers with an income less than $100,000, or joint filers with an income of less than $150,000, the exemption is $3,200. Maryland taxable income is based on your federal adjusted gross income (AGI), but with some differences. The above rates apply to Maryland taxable income. The state tax is structured based on income brackets, similar to the federal tax system., There are both state and county income taxes in Maryland. Financial advisors can also help with investing and financial plans, including retirement, homeownership, insurance and more, to make sure you are preparing for the future. Here we’ll take a closer look into the Maryland state tax system.Ī financial advisor in Maryland can help you understand how these taxes fit into your overall financial goals. Of course, all of these taxes and rates are subject to their own specific rules and exceptions. The state’s property taxes, at an average effective rate of 1.06%, are slightly higher than average. Its state sales tax of 6% is fairly par for the course on a national scale, though.

These combined state and local taxes place Maryland in the top half of U.S. Additionally, there is a statewide income tax in Maryland, with a top rate of 5.75%. Specifically, counties in Maryland collect income taxes with rates ranging from 2.25% to 3.20%. Maryland is among the states in which local governments levy their own taxes on personal income. Gas tax: 27.10 cents per gallon of regular gasoline, 27.85 cents per gallon of diesel.Property tax: 1.06% average effective rate.

Where can buy turbotax 2016 in columbia md