Maryland Increases Income Tax Subtraction for Public Safety Retirement Income

The Maryland Governor signed a law increasing the state income tax subtraction available for retirement income received by qualifying public safety employees. The subtraction will be phased up from $15,000 to $20,000 by tax year 2030. The law takes effect July 1. [S.B. 607, enacted 05/26/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.