In this Gorfine, Schiller & Gardyn podcast interview, Patrick Hom, Director of Tax Services at GSG, breaks down the latest Maryland tax updates and changes, including those that took effect on July 1, 2025, and others outlined in the Budget Reconciliation and Financing Act of 2025.
The State of Maryland has enacted significant tax updates that impact both individuals and businesses. From adjustments to income tax brackets to a new net capital gains surtax and changes to sales and use tax, these updates will affect tax planning for years ahead.
In this podcast, we highlight the most important changes and what they could mean for you. Following are the key discussion points from this interview:
- Overview of Maryland’s recent tax changes. (:40)
- Introduction of the net capital gains surtax. (2:25)
- Updates to standard and itemized deductions. (3:35)
- New sales and use tax rules for certain data and IT services. (5:35)
Please contact GSG here to learn more about how we can help you understand and adapt to these Maryland tax updates and changes.
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