Marylanders are due to receive $1.86 billion in savings after Gov. Larry Hogan, House Speaker Adrienne Jones and Senate President Bill Ferguson signed into law a package of tax cuts, including a bill that eliminates the income tax for most retirees in the state. Senate Bill 405 and House Bill 420 create a tax credit of $1,000 for residents age 65 and older whose income does not exceed $100,000, and a credit of $1,750 for couples age 65 and older whose income does not exceed $150,000.
Hogan, Ferguson And Jones Sign $1.86B Tax Cut Package Into Law
April 4, 2022