State vs. federal income tax rates, types of income subject to tax, and more can differ. State income tax varies depending on ...

A higher cap on the deduction for state and local taxes is one element of Trump’s Big Beautiful Bill that Gov. JB Pritzker and many other Democrats supported.

Eliminating the income tax is viewed as a way to stay competitive with surrounding states and attract businesses.

Gov. Moore’s income tax plan aims to raise taxes on Marylanders earning over $500,000 annually from 5.75% to 6.25%. Tax brackets for married couples filing jointly will also be adjusted.

Elon Musk’s rocket company relies on federal contracts, but years of losses have most likely let it avoid paying federal ...