Maryland Comptroller Issues 2024 Employer Income Tax Withholding Guide

The Maryland Comptroller Dec. 1, 2023 issued a guide on employer withholding for corporate income and individual income tax purposes. The guide provides that for the percentage method calculation, the Standard Deduction amounts are now a minimum of $1,800 and a maximum of $2,700. The guide includes information on: 1) the requirements to withhold state income taxes from employees’ wages; 2) the percentage formulas used for determining the amount of tax to be withheld; 3) the law applicable to withholding of income taxes; 4) payments subject to withholding; and 5) the filing of withholding tax returns. The guide includes special ...