With the State of Maryland in a constant budget crisis that seems to never end, I’m afraid that we will not see a real tax cut for the lower and middle class within our lifetime. With that in mind, Maryland’s sales taxes will rise from 5% (that’s 5 cents per dollar) to 6% percent (6 cents per dollar) tomorrow on Thursday. The hike will, according to the Maryland Governor’s Office, will generate about $900 million in addition revenue. The sales tax will make the state competitive to New Jersey, West Virginia, and Pennsylvania. The States I have mentioned already have a 6% sales tax.
Other taxes for cigarettes, vehicle titling, and corporations have already in effect as of New Years Day 2008. The tax for corporations has been raised from 7% to 8.25%. Taxes for cigarettes are now two dollars per pack. And vehicle titling tax was raised by 20% to 6 cents per dollar.
This article from Gazette.net has a convenient chart of the tax changes in full around the bottom of the page.
