Tax increase: The new rates affect individuals making more than $100,000 and families making more than $150,000. The measure, projected to raise $250 million, lifts rates on about 14 percent of Marylanders by one-quarter to three-quarters of a percentage point, while also phasing out personal exemptions.
The change is retroactive to January, meaning that some people accustomed to getting a tax refund will owe taxes next year. The comptroller's office is waiving fines if filers miscalculated estimated taxes owed, though that may be small consolation to those accustomed to getting money back.
John "Skip" Sullivan, a certified public accountant in Columbia, predicted that "procrastinators" who tend to file near the April 15 deadline will get a shock when they realize how much they owe. "The warning should go out to them," he said."
Oh. That's right. If you earn $100,000 in MD, not a cheap state to live in by far, you are wealthy.