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By Karen Lazarovic | February 27, 1991
Q. I am single and earned $45,000 in 1990. I expect to earn about $48,000 this year. I know that Congress made some changes in the tax brackets late last year. Will I be affected?A. Personal income tax brackets were changed as part of the Revenue Reconciliation Act that Congress passed last year. The new income tax brackets for 1991 are as follows:Fifteen percent bracket is for unmarried individuals with incomes under $20,350 and for married couples filing jointly earning under $34,000. Those limits are up from $19,450 for single filers and $32,450 for couples for the 1990 tax year.
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NEWS
June 14, 2011
On May 23, the City Council of Aberdeen passed a budget that increased spending over last year and while cutting property taxes, raised our water and sewer rates. At this meeting, Mayor Michael Bennett said that he chooses not to use the constant yield, the rate that would cut the property tax further to keep spending at last year's level, because if the city isn't spending more money, then "nothing exciting is happening" in Aberdeen. On June 13, the council will vote on a tax break for buildings that pass green building or "LEED" certification.
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NEWS
By John W. Frece and John W. Frece,Sun Staff Writer | March 10, 1995
Gov. Parris N. Glendening stopped short of using the word veto yesterday, but made it clear he will "resist" attempts by the General Assembly to push through a personal income tax cut this year.In the strongest terms he has used, the governor said it would be imprudent and irresponsible to grant tax relief without major and permanent cuts in state spending -- actions that he said his new administration needs more time to develop.He also cautioned against cutting taxes until the state has a better idea how much federal money it will lose as a result of actions by the Republican-controlled Congress.
BUSINESS
By JAY HANCOCK and JAY HANCOCK,jay.hancock@baltsun.com | October 22, 2008
Is Comptroller Peter Franchot grandstanding with his plan for a high-powered commission to find new state spending cuts? Yes. Gov. Martin O'Malley and Senate President Thomas V. Mike Miller would oppose world peace if they thought it was Franchot's idea. They certainly won't go along with a budget group. But does that make it a dumb thought - a bipartisan committee to undertake a "critical review of state revenues and spending"? No. Government budgets build up like the Appalachians in the Paleozoic Era - a centimeter at a time and thousands of feet high.
NEWS
By Mary Gail Hare and Mary Gail Hare,SUN STAFF | April 18, 2003
The Carroll County commissioners unveiled a $244.7 million budget yesterday that proposes a slight increase in the personal income tax and several provisions that are expected to make growth pay for itself. The plan includes money for two new schools and a new senior center in South Carroll, the county's most populous area. It ensures Carroll's commitment to agricultural preservation and $2 million to road repairs. The effect of looming state budget cuts could remain unknown even when the commissioners adopt the budget late next month.
BUSINESS
By Thomas W. Waldron and Thomas W. Waldron,SUN STAFF | January 19, 1997
For two years, the state's business leaders have made it their No. 1 goal to cut Maryland's personal income tax rate.Over the next two months, those same business people - walking shoulder to shoulder with Gov. Parris N. Glendening - will finally have a chance to sell the idea to a somewhat skeptical General Assembly.In the most significant policy announcement of his first two years in office, Glendening last fall laid out the case for a tax cut.While the state's economy has been growing moderately, job creation has lagged, the governor said.
BUSINESS
October 19, 1995
Your hunch was right. Your employer is making a lot more money. You're not.Thanks to higher profits, tax collections from Maryland corporations soared by 12.6 percent during August and September, compared with the same months last year.By contrast, personal income tax received from Marylanders rose only 4.6 percent. The $575.3 million collected in personal income tax for the two months was actually 2.6 percent less than what state budget gnomes had expected it to be.Corporate tax receipts, on the other hand, are 2.2 percent ahead of expectations.
NEWS
By Thomas W. Waldron and Thomas W. Waldron,SUN STAFF | February 7, 1996
An article in yesterday's editions incorrectly reported the size of a personal income tax cut sought in a bill sponsored by Republicans in the Maryland Senate. The legislation would cut the rate by 10 percent, phased in over four years.The Sun regrets the error.In an effort to keep up pressure for tax relief, several leaders of the House of Delegates plan to introduce legislation this week to cut Maryland's personal income tax rate by 10 percent over three years.Although they agree with the governor that a tax-cut decision is weeks away, the House leaders say they want to begin discussing the issue while waiting for a state revenue forecast in March and a possible resolution to the federal budget impasse in Washington.
NEWS
By Barry Rascovar | January 28, 1996
MARYLANDERS have been conned. They've been sold a bill of goods that doesn't make sense when you start to think it through. It is a simplistic solution to a highly complex problem, but one that too many politicians in Annapolis have latched onto -- even though they know better.The con is that Maryland's economic future depends on slashing the state's personal income-tax rate (now at 5 percent).This is the state business community's mantra. In fact, some of its representatives are almost manic about it. Maryland is a ''high-tax'' state, a ''tax hell.
NEWS
By Frank Langfitt and Frank Langfitt,SUN STAFF Sun staff writer John W. Frece contributed to this article | November 22, 1995
An association of 570 nonprofit organizations -- including religious groups, homeless advocates and other charities -- urged state legislators yesterday to oppose a personal income-tax cut next year, calling the proposal fiscally irresponsible.Citing the projected loss of billions of federal dollars over the next seven years, the Maryland Association of Nonprofit Organizations said the state cannot afford to cut taxes in the face of plunging revenues.Peter V. Berns, the association's executive director, said the federal cuts alone could cost thousands of Marylanders insurance coverage for routine health care.
BUSINESS
By JAY HANCOCK | August 1, 2008
The consulting firm KPMG planted hypothetical companies in different places and concluded that metro Baltimore boasts the second-lowest business taxes of any major U.S. city. I asked real Baltimore business people paying actual taxes whether this sounded on the up-and-up. "What dope are they smoking?" asked Bert Wilson of South River Consulting. "It's hard to believe," said Robert O.C. Worcester of Maryland Business for Responsive Government. "Ha ha ha. I don't have their data in front of me, but I find it extremely hard to believe," said Scott MacDonald of Maryland Thermoform Corp.
NEWS
By Gadi Dechter and Gadi Dechter,Sun reporter | March 15, 2008
Amid growing momentum for a repeal of Maryland's new computer services tax, Comptroller Peter Franchot released a broad interpretation of the levy yesterday, stoking fears that it will force businesses to leave the state. Under the draft rules, computer services would be subject to the 6 percent sales tax even if the service provider is located outside of Maryland. That will make enforcing the law difficult and could encourage business customers to relocate computer-related operations, said Franchot, an outspoken opponent of the tax. "Companies will be lined up in droves to leave the state if the tax is not repealed," he said.
BUSINESS
By Carolyn Bigda and Carolyn Bigda,Tribune Media Services | December 2, 2007
Timing can play a crucial role with holiday gifts: You typically have a certain number of days to return that less-than-becoming scarf; a year or so to redeem a gift card. This season, you also will want to pay extra close attention to when you cash in a gift of stock. Parents, grandparents and other relatives frequently "gift," or transfer, a stock to a younger family member. It's a nice gesture and a way to cut taxes by taking advantage of a young person's presumably lower tax rate.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Columnist | June 27, 2007
David Edgerley may be the only business leader in Maryland who isn't worried that an impending tax increase will harm the state's economic climate. "I don't have any information that there's a threat," Edgerley, Gov. Martin O'Malley's economic development secretary, said on the phone last week. "You're not hearing it from me." That's a reason to worry even more. Edgerley seems oblivious to what's obvious to many: As it addresses a budget gap of $1.5 billion, Annapolis again looks likely to demonstrate its talent for taxing companies ineptly or excessively.
NEWS
September 1, 2005
James Scheuer, 85, who represented parts of the Bronx, Brooklyn, Queens and Nassau County, N.Y., during 26 years as a congressman, died Monday in Washington. Elected to the House in 1964, he served until 1992, except for a two-year term in the mid-1970s when he lost an election. He pushed for the Head Start early development program, auto safety, environmental protection and family planning. Jude Wanniski, 69, a journalist and economist whose advocacy of huge tax cuts as an economic stimulus was embraced by Ronald Reagan, died Monday in Morristown, N.J. He coined the phrase "supply-side economics," referring to a theory that cutting personal income tax rates would lead to increased investment and create economic growth.
BUSINESS
By Jay Hancock | July 31, 2005
WHAT'S BEHIND the surprising spurt in Maryland tax collections and what Gov. Robert L. Ehrlich Jr. calculates is a billion-dollar budget surplus? It's not something just for the politicians to brag about and the revenue nerds to dissect. Tax tills provide one of the most vivid, nearly real-time views available of the economy - where it's strong, where it's weak and where it's headed. Analysis of the fiscal intake valves by Bureau of Revenue Estimates director David F. Roose shows a Maryland economy that's being supercharged by the housing boom but is also supported by a strong, broad base of business activity that shows few signs of fading.
BUSINESS
By Peter Jensen and Peter Jensen,SUN STAFF | January 12, 1996
If Maryland wants to attract new businesses and jobs, the General Assembly needs to reduce the personal income tax and cut regulatory red tape, Maryland Chamber of Commerce officials said yesterday.The chamber officials, meeting in Annapolis, renewed their call for a personal income tax reduction of 15 percent over three years as their top priority of the 1996 legislative session. But they also said streamlining the rules and regulations that affect private companies could greatly enhance the state's business climate.
NEWS
By John W. Frece and John W. Frece,Sun Staff Writer | August 31, 1995
Maryland closed the books on fiscal year 1995 this summer showing a modest $26.5 million surplus, state tax collector Louis L. Goldstein announced yesterday.By law, the money -- not even enough to run state government for a day -- automatically will revert to a $190 million fund the General Assembly set aside last winter as a hedge against expected reductions in federal aid or for use to help finance a proposed reduction in state income taxes.Gov. Parris N. Glendening called the announcement "a good news day for Marylanders" and said the surplus will help Maryland retain its AAA bond rating "and our reputation for good fiscal management."
NEWS
By James Rainey and James Rainey,LOS ANGELES TIMES | September 25, 2003
The five leading candidates for governor of California met last night for what is likely to be their only joint debate, one that was marked by angry exchanges and sharp disagreements on new taxes, how to solve the state's budget nightmare and even whether California's economy is in crisis. Some of the most contentious moments of the forum at California State University, Sacramento involved author Arianna Huffington and actor Arnold Schwarzenegger, who has said that last night's forum would serve as his only debate.
NEWS
September 6, 2003
Changing rules on tax reporting won't fix budget In its editorial "Cracking the shells" (Aug. 21), The Sun proposes that Maryland follow California's lead by adopting the "combined reporting" method for corporate tax returns. Unfortunately, The Sun's proposed solution is an extreme way of addressing a poorly defined problem. As California's $38 billion deficit makes clear, combined reporting is not the answer to a state's revenue problems. The editorial's premise is that Maryland's corporate income tax revenue has decreased from 5.5 percent of general fund revenues in 1980 to 4.5 percent in 2000 because of "tax dodges" and "schemes."
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