The Maryland Comptroller has published instructions for the 2025 tax year regarding how fiduciaries (estates and trusts) should file their Maryland income tax returns using Form 504. The instructions provide details on calculating Maryland taxable income, claiming deductions and credits, computing the tax liability, and other requirements for resident and nonresident fiduciaries. Changes for 2025 include altered state income tax rates, a new additional 2 percent tax on certain net capital gains for filers with federal adjusted gross income exceeding $350,000, modifications to itemized and standard deductions based on income levels, and several new additions and subtraction modifications to federal ...
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