Maryland Income Tax Guide for 2024
Overview
Maryland uses a progressive income tax system with rates ranging from 2% to 5.75%. Capital gains are taxed as ordinary income. The state offers a standard deduction of $2,700 for single filers, personal exemptions of $3,200, and dependent exemptions of $3,200.
Income Tax Rates
Single Filers
| Income Range | Tax Rate |
|---|---|
| Up to $999 | 2% |
| $1,000 - $1,999 | 3% |
| $2,000 - $2,999 | 4% |
| $3,000 - $99,999 | 4.75% |
| $100,000 - $124,999 | 5% |
| $125,000 - $149,999 | 5.25% |
| $150,000 - $249,999 | 5.5% |
| $250,000+ | 5.75% |
Married Filing Jointly
| Income Range | Tax Rate |
|---|---|
| Up to $999 | 2% |
| $1,000 - $1,999 | 3% |
| $2,000 - $2,999 | 4% |
| $3,000 - $149,999 | 4.75% |
| $150,000 - $174,999 | 5% |
| $175,000 - $224,999 | 5.25% |
| $225,000 - $299,999 | 5.5% |
| $300,000+ | 5.75% |
Capital Gains Tax
Capital gains are taxed at the same rates as ordinary income.
Deductions & Exemptions
| Type | Amount |
|---|---|
| Standard Deduction (Single) | $2,700 |
| Standard Deduction (Married Filing Jointly) | $5,450 |
| Personal Exemption (Single) | $3,200 |
| Personal Exemption (Married) | $6,400 |
| Dependent Exemption | $3,200 |
Additional Information
- Standard deduction is 15% of Maryland adjusted gross income, with a minimum of $1,800 and a maximum of $2,700 for single filers and a minimum of $3,650 and a maximum of $5,450 for joint filers; the amounts shown are the maximums
- Personal exemption of $3,200 per person phases out for federal AGI over $100,000 (single) / $150,000 (joint) and reaches $0 over $150,000 / $200,000
- The 6.25% and 6.5% top brackets and the 2% tax on net capital gains were added by the Budget Reconciliation and Financing Act of 2025 (HB 352, Ch. 604) beginning tax year 2025 and do not apply for 2024
- Maryland counties and Baltimore City levy a local income tax in addition to the state rates shown
Charts
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Sources
The 2024 figures for Maryland on this page were compiled from the following official government publications:
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