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Although the state does not have personal property tax rates, there are some counties that do.
Maryland and D.C. do not have personal property taxes on personal vehicles, but do have business personal property taxes. Twenty-four states and the District effectively have no car tax, according to WalletHub.
Responsibility for the assessment of all personal property throughout Maryland rests with the Department of Assessments and Taxation. Personal property generally includes furniture, fixtures, office and industrial equipment, machinery, tools, supplies, inventory and any other property not classified as real property.
Additionally, there is a statewide income tax in Maryland, with a top rate of 5.75%. These combined state and local taxes place Maryland in the top half of U.S. states for income taxes. Its state sales tax of 6% is fairly par for the course on a national scale, though.
All corporations, limited liability companies (LLCs), limited liability partnerships (LLPs), and limited partnerships must file personal property returns with the Department of Assessments and Taxation. 2.
Although the state does not have personal property tax rates, there are some counties that do.
Personal Income TaxA percentage of the Maryland Adjusted Gross Income for Calendar Year 20192.83 percent and starting Calendar Year 20203.2 percent. Personal Property$2.75 per $100 of assessed value. Real Property$1.10 per $100 of assessed value.