The Maryland State Senate received the proposed Budget from the O'Malley administration last week. While details are still forthcoming, it appears that the following fee and tax increases are being proposed:
Income tax increase for individuals earning more than $100,000 a year and couples earning more than $150,000, along with reductions in deductions available to individuals and families against their tax obligation. Traditionally known as the millionaires tax, this significant departure from those making over a million to those making over $100,000 will dramatically impact Anne Arundel County families.
Internet purchases continues to be an area ripe for new taxes as are increases on smokeless tobacco.
What's not included in the budget bill but likely to come as separate legislation would be increases to the flush tax, the gas tax and other taxes and fees on a variety of issues. As they say, the devil is in the details....now let's see what those are.
I am interested in hearing your thoughts as more of the budget details are disclosed. Stay tuned....