Print   Email   RSS

Franchise Tax in Maryland

April 13, 2006

	Visited: 131
	Not rated
	Rate: Select 1 - Terrible 2 - Poor 3 - Average 4 - Good 5 - Outstanding

In Maryland, a franchise tax is imposed on public utilities like telephone, electric, and gas companies. The rate of the tax is 2 percent of gross receipts derived from business in Maryland.

Maryland's financial institution franchise tax was eliminated starting in 2001. Instead of the franchise tax, financial institutions are now subject to the 7 percent corporate income tax rate.

 Feedback   Mail To A Friend   Submit Article   Add To Favorites