Maryland boasts nice rankings in business tax rates
Good news for Maryland businesses.
According to a new report, some tax rates for companies are fairly low.
The Tax Foundation and business services company KPMG ranked the states in seven tax categories.
The report found that Maryland businesses are subject to different tax rates depending on their industry and how long they’ve operating in the state.
It also showed that labor-intensive manufacturers in Maryland had the 4th-lowest tax rate of 4.9%.
Following close behind are call centers, with the 9th-lowest rate at 14.8%.
In addition, the state boasts the 10th-lowest rate for research and development facilities with a rate of 7.9%.
Here’s how Delaware and Virginia ranked in those categories:
Delaware:
- Labor-Intensive Manufacturers (23rd) – 13.3%
- Call Centers (32nd) – 21.3%
- Research & Development Facilities (45th) – 15.4%
Virginia:
- Labor-Intensive Manufacturers (2nd) – 4.3%
- Call Centers (21st) – 18.1%
- Research & Development Facilities (35th) – 13.5%
You can view the full report here.
