9. Maryland: Bipartisan Pressure to Slash Retirement Taxes
Maryland offers a substantial pension exclusion for older residents, but qualification rules remain intricate. Lawmakers frequently introduce measures like the “Keep Our Seniors in Maryland Act” to simplify these rules.
The state adjusts its maximum pension exclusion annually based on statutory calculations. Qualifying individuals aged 65 and older can deduct significant portions of their defined-benefit payments.
Senior advocacy groups such as AARP continue lobbying Annapolis for broader, universal pension subtractions. Check state revenue bulletins to view this year’s maximum exclusion limit.
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