Baltimore Stats

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Category: Budget & Taxes (page 1 of 2)

Maryland Among the Least Tax-Friendly States for Business

States compete to attract new businesses, which can generate jobs and contribute to economic growth. While every state levies some form of taxes on businesses, some states are more tax-friendly than others. In addition to other factors, such as the strength of the labor force, a state’s tax code is an important consideration for businesses […]

Gas in Maryland Costs Less Than the Majority of States

The price of gas, a necessity for most Americans, tends to be somewhat unpredictable. The common, often erratic, fluctuations are due to basic supply and demand factors, but the price of gas also changes with the seasons, after natural disasters, and due to other events in the United States or around the world. The average […]

Maryland is Among the States With the Highest Taxes

In the U.S. federalist system, each state government decides how to generate revenue — that is, which taxes to collect, and how. No state tax code is identical, and largely as a result, what the average American pays annually in taxes varies from state to state. 24/7 Wall St. reviewed each state’s tax burden — […]

Maryland Sales Tax Among the Lowest in the Nation

Because sales tax is regressive — disproportionately affecting poorer residents — the decision to raise or lower the sales tax rate is often accompanied by intense debate. Still, last year, hundreds of cities and several states raised sales tax rates, although many others lowered rates as well. Sales taxes are levied by both state and […]

Gas Tax in Maryland Lower Than Most States

The federal government has some $51.4 billion in its coffers, primarily set aside for road construction and repair. These funds are raised from a federally imposed 18.4 cent tax on every gallon of gas purchased on American soil. On top of the federal tax, each state collects its own tax on every gallon of gas […]

Maryland Property Taxes Lower Than Most States

Property taxes are different from income and sales taxes. They do not depend on how much money you earn or on how much you spend. Property taxes are based entirely on how much the property you own is worth — a determination belonging to the tax assessor. Because property taxes are collected locally, taxpayers are […]

Maryland Managed Better Than Most States

Comparing the quality of governance between states can be challenging. The decisions state governors, legislators, city mayors and other elected officials make can have wide-reaching effects on state residents, and these decisions can sometimes take years to have an impact. Aware of these inherent challenges, 24/7 Wall St. has for seven straight years reviewed the […]

Maryland’s Tax Revenue From Marijuana Could be $165 Million

Four states and the District of Columbia have voted since 2012 to legalize the retail sale of marijuana. One main incentive of legalization is the tax revenue states receive from marijuana sales. The first two states to legalize marijuana — Colorado and Washington — began sales in 2014. After a slow start, tax revenues now […]

Maryland is Among the States Profiting Most From Sin

Smoking, drinking, gambling, and other vice-like habits are widely believed to be harmful — not just to the individuals who drink, smoke, or gamble, but to society at large. Some states levy so-called “sin taxes” on such products or otherwise profit from such behaviors. Whether these taxes effectively deter residents from harmful behavior, or whether […]

Maryland is the 3rd Most Expensive State to Drive

After housing, transportation is the average American’s second largest yearly expense. Gasoline, insurance, and car repairs cost the average driver more than $3,000 annually. A number of factors, such as gas prices and road infrastructure, determine the cost of owning and operating a car. These factors vary widely from state to state. To identify the […]

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