1. What is the Maryland Salary Tax Calculator?

The Maryland Salary Tax Calculator estimates your total state tax burden for the 2024-25 tax year based on your taxable income, Maryland's tax rate, and FICA contributions.

2. How Does the Calculator Work?

The calculator uses the Maryland tax formula:

Where:

• \( Taxable\ Income \) — Your pre-tax income in dollars
• \( MD\ 2024-25\ Tax\ Rate \) — Maryland's state tax rate (default 5.75%)
• \( FICA \) — Federal Insurance Contributions Act taxes (Social Security and Medicare)

Explanation: The equation calculates your state income tax and adds your FICA contributions to determine your total tax burden.

3. Importance of Tax Calculation

Details: Accurate tax estimation helps with financial planning, budgeting, and ensuring you have enough withheld to avoid penalties.

4. Using the Calculator

Tips: Enter your taxable income in dollars, Maryland tax rate as a percentage (default is 5.75%), and your FICA amount in dollars.

5. Frequently Asked Questions (FAQ)

Q1: What is Maryland's standard tax rate for 2024-25?
A: The standard rate is 5.75%, though some counties may have local income taxes as well.

Q2: How do I find my FICA amount?
A: FICA is typically 7.65% of your income (6.2% for Social Security and 1.45% for Medicare).

Q3: Does this calculator account for deductions?
A: No, you should enter your taxable income after deductions have been applied.

Q4: Are there different tax brackets in Maryland?
A: Maryland has a progressive tax system with rates from 2% to 5.75% based on income.

Q5: When are Maryland state taxes due?
A: Taxes are typically due April 15th of the following year, with quarterly estimated payments for some taxpayers.