Somerset County Economic Development Commission
Somerset County
Somerset County, Maryland
Somerset County Tax Rates
  Somerset County Maryland
Corporate Income Tax (2016)
Base - Federal taxable income.
none 8.25%

Personal Income Tax (2016)
Base - Federal adjusted gross income. *Graduated tax peaking at 5.75% on taxable income over $300,000.
3.15% 2.0% 5.75%

Sales and Use Tax (2016)
Exempt - sales for resale; manufacturer's purchase of raw materials; manufacturing machinery and equipment; purchases of materials and equipment used in R&D and testing of finished products; purchases of computer programs for resale.
none 6.0%

Real Property Tax (FY 2016)
Effective rate per $100 of assessed value. In an incorporated area, a municipal rate will also apply.
$0.915 $0.112

Business Personal Property Tax (FY 2016)
Rate per $100 of depreciated value. Exempt - manufacturing, R&D, and warehousing inventory. (Upon application to the County, a new or expanding firm may be eligible for a tax credit on manufacturing and R&D machinery, equipment, materials and supplies). In an incorporated area, a municipal rate will also apply.
2.2875 none

Major Tax Credits Available
Enterprise Zone; Job Creation; One Maryland; Research and Development.
Maryland State Department of Assessments and Taxation; Comptroller of the Treasury.

Somerset County