Maryland Updates “What’s New for the 2018 Tax Filing Season” Page

Sovos

January 23, 2018

The Comptroller of Maryland recently updated the "What's New for the 2018 Tax Filing Season" (2017 Tax Year) page on the Comptroller's website. This page tracks changes in Maryland's tax law. The following changes have been made:

For tax year 2017, Calvert County has increased its rate to 3.00% and Somerset County has increased its rate to 3.2%. Please note the changes on 2017 Form 502D. For tax year 2018 Cecil County has increased its rate to 3.00%. Please note the changes on 2018 Form 502D.
A new pension exclusion for qualifying retired law enforcement officer, or fire, rescue, or emergency services personnel has been created. A qualified individual may subtract up to $15,000. An individual may not claim both the subtraction and the standard pension exclusion.

To read the "What's New" page in whole, please follow the link.

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Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.

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