Md. Senate OKs bill to keep personal tax exemptions
(AP) – The Maryland Senate has passed a bill so Marylanders can keep taking state personal exemptions on their tax returns.
Senators voted 45-0 for the bill Tuesday. A separate bill is in the House.
The measure is part of state lawmakers' response to the federal tax overhaul approved in December.
Maryland state tax revenues are estimated to increase by about $730 million, if the federal law is determined to eliminate the state's personal tax exemption. Local government taxes would go up $490 million.
Maryland residents also could lose more than $400 million in addition to that, if the state doesn't preserve tax deductions ended by the federal law.