Tax and Fee increases: 24
Annual Impact to Tax Payer: $2.4 billion1
| Year | Tax/Fee Increase | Source | Revenues |
|---|---|---|---|
| 2012 Special Session | Income Tax – personal exemption phase-out – new rates at specified income levels | SB 1302 fiscal note p. 4 | $247.3 million |
| 2012 Special Session | Recordation Tax – indemnity mortgages. Revenue to counties. | SB 1302 fiscal note p. 16 | $35.7 million |
| 2012 Special Session | Tobacco products – increases rate for specified products from 15% to 30% | SB 1302 fiscal note p. 4 | $5 million |
| 2012 Special Session | Death certificate fee – $12 to $24 | SB 1302 fiscal note p. 4 | $0.7 million |
| 2012 | Bay Restoration “Flush Tax” – Doubles fee | 90-day report p. K-7 | $53 million |
| 2011 | Alcoholic beverages – sales tax increase 6% to 9% | 90-day report p. B-8 | $84.8 million |
| 2011 | Hospital assessment2 | 90-day report p. J-1 | $390 million |
| 2011 | Vehicle titling tax – $50 to $100 | 90-day report p. G-1 | $52.4 million |
| 2011 | Vehicle dealer processing charge – $100 to $3003 | 90-day report p. G-1 | $5.3 million |
| 2011 | Vanity plate fee – $25 to $50 | 90-day report p. G-1 | $2.5 million |
| 2011 | Birth certificate fee – $12 to $24 | 90-day report p. A-21 | $4 million |
| 2011 | Toll increases4 | MDTA | $90 million |
| 2009 | Speed monitoring system8 | Description: SB 277 2011 Legislative Session “Significant Revenue Measures 2008-2011″ p. 37 | $11.6 million |
| 2008 | Millionaire’s tax – top marginal rate 5.5% to 6.25%5 | 90-day report, p. B-7 | $154.6 million |
| 2007 special session | Income tax rates – new marginal rates ranging from 4.75% to 5.5% | SB-2 fiscal note | $191.3 million |
| 2007 special session | State corporate income tax – 7% to 8.25% | 2011 Legislative Session “Significant Revenue Measures 2008-2011″ p. 36 | $118.6 million |
| 2007 special session | Computer Services Tax5 | SB-2 | N/A |
| 2007 special session | Sales tax – 5% to 6% | 2011 Legislative Session “Significant Revenue Measures 2008-2011″ p. 36 | $603.4 million |
| 2007 special session | Tobacco tax – $1 to $2 per pack cigarettes | 2011 Legislative Session “Significant Revenue Measures 2008-2011″ p. 36 | $133 million |
| 2007 special session | Vehicle titling tax – $23 to $50 | 2011 Legislative Session “Significant Revenue Measures 2008-2011″ p. 36 | $23 million |
| 2007 special session | Vehicle excise tax increase | 2011 Legislative Session “Significant Revenue Measures 2008-2011″ p. 36 | $36.9 million |
| 2007 special session | Electronic bingo / tip jar tax – 20% admissions/amusement tax | 2011 Legislative Session “Significant Revenue Measures 2008-2011″ p. 36 | $8 million |
| 2007 special session | Real property transfer tax6 | SB 2 fiscal note | $14.1 million |
| 2007 | Captive Real Estate Investment Trusts7 | 2011 Legislative Session “Significant Revenue Measures 2008-2011″ p. 37, 38 description. p. 36 | $10 million |
1. Either estimated or actual revenues for first full fiscal year measure is in effect.
2. Hospital Assessment:
Revenues are derived from an assessment on hospitals to close a Medicaid funding gap. The measure addresses increased enrollment in Medicaid as federal stimulus cash declined.
http://ww2.gazette.net/stories/04012011/polilee191524_32539.php
http://www.bizjournals.com/baltimore/news/2011/04/11/tax-on-maryland-hospitals-part-of.html
3. Vehicle Dealer Processing Charge:
The Baltimore Sun characterizes this as a “giveaway” to car dealers slid into the fiscal year 2012 budget. It allows dealerships to double the administrative fees they are allowed to charge customers.
4. Toll increases:
Harry W. Nice bridge (US 301)
Baltimore Harbor Tunnel (I-895)
Fort McHenry Tunnel (I-95)
Francis Scott Key Bridge (I-695)
JFK Memorial Highway (I-95)
Thomas J. Hatem Memorial Bridge (US 40)
Bay Bridge (US 50/301)
5. Millionaire’s Tax / Computer Services Tax:
Repealed the sales tax on computer services and imposed an income tax surcharge for three years on taxpayers with net taxable income over $1 million. The state’s top marginal income tax rate increased from 5.5 percent to 6.25 percent for tax years 2008 through 2010.
6. Real Property Transfer Tax:
The bill imposes recordation and transfer taxes on the transfer of real property with a value of $1.0 million or more when the transfer is achieved through the sale of a “controlling interest” in a specified corporation, partnership, limited liability company, limited liability partnership, or other form of unincorporated business.
7. Captive Real Estate Investment Trusts:
Eliminated use of captive real estate investment trusts (REITs) for income tax purposes
8. Speed Monitoring System:
Authorizing in all counties and municipalities in the State and in specified highway work zones the use of speed monitoring systems (cameras) to enforce specified highway speed laws.
