The Comptroller of Maryland, Revenue Administration Division recently updated the Maryland Employer Withholding Guide. This guide provides information to employers on how the withholding tax law applies to them, which payments are subject to withholding, determining withholding payments and reporting, and how to file their withholding reports. The guide also provides withholding tax tables based on certain percentages of local income tax.
There are a few updates made to the most recent version of this Guide, which are as follows:
- The standard deduction rates have changed per new legislation enacted in the 2018 Maryland Legislative Session;
- Minimum and maximum amounts related to standard deduction calculation have been changed: the minimum is now $1500m while the maximum is now $2250;
- Special withholding information for singles and students has been updated in this version.
To review this guide in its entirety, please visit the Maryland Department of Taxes by clicking here.