|
||
Advantages Disadvantages Maryland CorporationAdvantages Disadvantages Maryland CorporationAdvantages Disadvantages Maryland Corporation - A corporation, chartered by the state in which it is headquartered, is considered by law to be a unique entity, separate and apart from those who own it. A corporation can be taxed; it can be sued; it can enter into contractual agreements. The owners of a corporation are its shareholders.Advantages Disadvantages Maryland CorporationAdvantages of a Corporation
Advantages Disadvantages Maryland CorporationDisadvantages of a Corporation
Federal Tax Forms for Regular or "C" Corporations
Advantages Disadvantages Maryland CorporationMaryland's 2009 Business Tax Climate Ranks 45thMaryland ranks 45th in the nation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes; individual income taxes; sales taxes; unemployment insurance taxes; and taxes on property, including residential and commercial property. Neighboring states ranked as follows: Delaware (10th), Pennsylvania (28th), West Virginia (36th) and Virginia (15th).Maryland's Individual Income Tax SystemMaryland's personal income tax system consists of eight separate brackets with a top rate of 6.25%, kicking in at an income level of $1,000,000. Among states levying an individual income tax, Maryland's top rate ranks 20th highest nationally. Maryland's 2006 individual income tax collections were $1,762 per person, which ranked 2nd highest nationally.Maryland's Corporate Income Tax SystemMaryland's corporate tax structure consists of a flat rate of 8.25% on all corporate income. Among states levying corporate income taxes, Maryland's rate ranks 15th highest nationally. In 2007, state-level corporate tax collections (excluding local taxes) were $139 per capita, which ranked the state 30th highest nationally.Maryland Levies Sales Tax at National MedianMaryland levies a 6% general sales or use tax on consumers, at the national median. State and local governments combined collected approximately $605 per capita in sales taxes in 2006, which ranks 43rd highest nationally. Maryland's gasoline tax stands at 23.5 cents per gallon, which ranks 26th highest nationally. Maryland's cigarette tax stands at $2.00 per pack of twenty, ranking 9th highest nationally. The sales tax was adopted in 1947, the gasoline tax in 1922 and the cigarette tax in 1958.Home | Advantages Disadvantages Maryland Corporation | Site-Map |
||
|