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TAXES
Howard County and the State of Maryland taxes businesses to help fund the
costs of public services including transportation and schools. The County’s
current real estate tax rate is $1.014 per $100 of assessed value. More detailed
information regarding taxes is below:
Property Taxes
|
(Fiscal Year 2010) |
Howard County |
Maryland |
|
Real Property Tax Rate
(per $100 of assessed value) |
$1.014 |
$0.112 |
|
Business Personal Property Tax Rate
(per $100 of depreciated value) |
$2.54 |
$0.00 |
|
R&D machinery, equipment,
materials and supplies |
Partially
Exempt |
$0.00 |
|
Manufacturers machinery, tools
and equipment |
Exempt |
$0.00 |
|
Manufacturers inventory |
Exempt |
$0.00 |
|
Warehousing inventories |
Exempt |
$0.00 |
Income Taxes
State Corporate Income Tax:
8.25% of net income attributable to business transacted within Maryland. No County
tax.
State Personal Income Tax:
- 4.75% of taxable income of $3,000.00 to $147,000.00
- 5.00% of next $147,000.00
- 5.25% for next $200,000.00
- 5.50% for next $500,000.00
County Personal Income Surtax:
- 3.20% of taxable income.
- Sales and Use Taxes
State:
5% on tangible personal property sold at retail or used in Maryland. Does not
apply to a
manufacturer's purchase of raw materials, nor manufacturing machinery and equipment.
County:
None.
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