Maryland Salary Tax Calculator
This Maryland Salary Tax Calculator helps Maryland residents estimate their state income tax liability based on their taxable income. It considers Maryland's progressive tax brackets and local income tax rates to provide accurate tax estimations for proper financial planning.
How It Works
Enter your annual salary and click calculate. The calculator uses Maryland's 2023 tax brackets: 2% up to $1,000, 3% ($1,001-$2,000), 4% ($2,001-$3,000), 4.75% ($3,001-$100,000), and 5.75% above $100,000. Local taxes (average 3.2%) are added. Results show breakdown of state tax, local tax, and net salary.
FAQs
1. How accurate is this Maryland tax calculator?
This calculator provides estimates based on current Maryland tax brackets and average local tax rates. While it's updated for 2023 tax laws, actual taxes may vary based on specific deductions and local county rates.
2. Does the calculator include local taxes?
Yes, it includes an average 3.2% local tax which varies by county. Some counties range from 2.25% to 3.2%. Check with your local government for exact rates.
3. Can I use this for self-employment income?
This calculator is designed for W-2 employees. Self-employed individuals should consult a tax professional as additional taxes may apply.
4. How often is the calculator updated?
We update tax brackets annually. However, always verify with official Maryland tax resources for recent law changes.
5. Does it consider tax deductions?
This calculator estimates based on gross income. Actual taxable income may be lower with deductions like 401(k) contributions or itemized deductions.