Maryland Comptroller Announces 2025 Tax Year Changes Impacting 2026 Tax Filers

The Maryland Comptroller has announced changes for the 2025 tax year that will affect taxpayers filing returns in 2026. The updates include modified state income tax brackets, an additional 2 percent tax on certain net capital gains for high-income filers, increased standard deductions, $3,350 for single filers and $6,700 for joint filers, new limitations on itemized deductions for taxpayers with federal adjusted gross income over $200,000, an increased pension exclusion of $41,200 for qualifying taxpayers, three new subtraction modifications, and local tax rate adjustments for Allegany and Kent counties. The filing deadline for individual income tax returns is April 15, ...