![]() ![]() To learn more about pandemic-related tax relief programs in other states and countries, see our COVID-19 tax news and resource hub. Since “taxpayers will remit what is due” after the 90-day breather, the relief program won’t affect the state budget.Īdditional details can be found in Maryland Tax Alert 01-06-21. The comptroller hopes the delayed due dates will “alleviate financial pressures” for businesses waiting to receive federal grants, loans, and relief funds. You can also see the rates and bands without the Personal Allowance. Payment voucher with instructions and worksheet for individuals sending check or money order for any balance due on a Form 502 or Form 505, estimated tax payments, or extension payments. Personal Tax Payment Voucher for Form 502/505, Estimated Tax and Extensions. ![]() Nonresidents are subject to a special tax rate of 2.25, in addition to the state income. Form to be used when claiming dependents. ![]() This is similar to the relief program Maryland offered in early 2020, when COVID-19 first forced businesses to close or operate at limited capacity. For tax year 2021, Marylands personal tax rates begin at 2 on the first 1000 of taxable income and increase up to a maximum of 5.75 on incomes exceeding 250,000 (or 300,000 for taxpayers filing jointly, heads of household, or qualifying widow (ers). In announcing the relief program, Comptroller Peter Franchot said, “My directive for a tax forbearance that is interest and penalty free is a direct and immediate economic stimulus for Maryland businesses and workers - a decision that we estimate keeps more than $1 billion in consumers’ pockets and helps businesses keep their lights on.” Nine states don’t have an income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. Separate returns and payments should be remitted for each filing period, as if they’d been filed according to their original due dates.Īdditionally, businesses, self-employed individuals, and independent contractors have until April 15, 2021, to file and remit estimated income tax returns and payments due January 15, 2021.
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