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Md Form 505

Md Form 505

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Instructions and help about maryland form 505 instructions

foreign is 84 700 and our state taxable income is going to be 84 700. minus the state standard deduction and we looked at our tax tables for that Maryland standard deduction for someone filing single is 2 400. so I'm gonna put that one in first and standard deduction is the amount of money that you can earn without having to pay any taxes on it so Maryland gives you the first two thousand four hundred dollars tax-free everything else gets taxed after that minus two thousand four hundred then we start looking at our brackets so our taxable income eighty two thousand three hundred is going to go into that first box this is the amount of money we have to pay taxes on so we've taken the standard deduction away this is what's left and we're going to start taxing it at each bracket so Maryland's ones the first three brackets each hold a thousand dollars so zero to one thousand is a thousand dollars one thousand to two thousand is also a thousand dollars and two thousand three thousand is als

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