Kristine Cummings

Personal property generally includes furniture, fixtures, office and industrial equipment, machinery, tools, supplies, inventory and any other property not classified as real property. What is tangible personal property in Maryland? These generally include items such as furniture, clothing, jewelry, art, writings, or household goods. Pets and livestock are also considered tangible personal property. How much …

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The Maryland Department of Assessments and Taxation (SDAT) has automatically extended the deadline to submit 2020 Annual Reports and Personal Property Tax Returns to July 15 as part of the Hogan administration’s response to COVID-19. Is Maryland an automatic extension? If you already requested an extension from IRS for your federal return and you do …

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The credit amount is limited to the lesser of the individual’s state tax liability for that year of the maximum allowable credit of $5,000, per owner, who qualifies to claim the credit. The credit can be claimed on Maryland forms 502, 504, 505 or 515. How much is the earned income credit in Maryland? If …

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In Maryland, there are more than 2 million property accounts which are split into three groups, each appraised once every three years. The overall statewide increase for “Group 1″ properties was 12.0% over the past three years according to SDAT. The overall statewide increase was higher than 2020’s 8.1% increase. Which county in Maryland has …

Did Maryland Property Taxes Go Up? Read More »

But there are a few locations where drivers are getting some breaks and seeing prices fall — largely due to lawmakers who have suspended gas taxes in their states. The relief has been almost immediate in Maryland and Georgia, the two states that so far have enacted the tax cuts. Why have gas prices dropped …

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At home, people are driving less, while gasoline stocks increase. According to the Energy Information Administration, demand for gas dropped from 9.41 million barrels per day to 8.06 million b/d last week, while gasoline stocks increased by nearly 6 million barrels week-over-week. What causes gas prices to drop? Global fuel demand has been declining because …

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