Sen Steve Waugh
Income Tax – Subtraction Modification – Military Retirement Income – Individuals at Least 65 Years Old
This bill, being heard on Wednesday, February 10th in the Senate Budget and Taxation Committee, expands the existing military retirement income tax subtraction modification by increasing from $10,000 to $15,000 the maximum amount of retirement income that can be excluded from Maryland adjusted gross income for purposes of calculating Maryland income tax liability. In order to qualify for the increased subtraction modification, the individual must be at least 65 years of age
This bill is sponsored by Senator Peters and is co-sponsored by myself as well as Senators Astle, Benson, Cassilly, Currie, DeGrange, Edwards, Feldman, Guzzone, Hough, Jennings, Kagan, King, Klausmeier, Manno, Mathias, McFadden, Middleton, Nathan-Pulliam, Norman, Ramirez, Raskin, Reilly, Rosapepe, Salling, Serafini,Simonaire, and Zirkin, and cross-filed by Del. C.T. Wilson (D-Charles County)
Job Growth Ideas
This initiative was suggested by the Calvert County Commissioners
- Property Tax Initiative -Addressing the issue of blight
This initiative would authorize a 5 year real property tax credit, up to 50%, for commercial properties, to correct blighted commercial property through demolition, construction or rehabilitation