EPY: When Are 2023 Maryland State And Local Tax Changes Going To Be Delivered?
(Doc ID 2922445.1)
Last updated on NOVEMBER 17, 2023
Applies to:
PeopleSoft Enterprise HCM Payroll for North America - Version 9.2 to 9.2 [Release 9]Information in this document applies to any platform.
Goal
When are the 2023 Maryland state and local tax changes going to be delivered?
Details:
State = MD
State = Z5 (Change from Reserved to MD 2.75 % local tax)
The minimum standard deduction increased from $1,600 to $1,700; the maximum standard deduction increased from $2,400 to $2,550. The value of a state allowance was unchanged at $3,200 annually.
Local Tax Table
MD-015 (Cecil): Change Graduated Tax Table Code from ZL (MD 3.00 % local tax) to Z7 (MD 2.85 % local tax). Reduce tax rate from 0.0300 to 0.0285.
MD-039 (St Mary’s): Change Graduated Tax Table Code from ZA (MD 3.10 % local tax) to ZL (MD 3.00 % local tax). Reduce tax rate from 0.0310 to 0.0300.
There are changes to several counties and two counties have changed the way the tax is to be calculated.
Solution
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In this Document
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