A July 25 Maryland’s Money Matters blog post reports that the United State’s Census Bureau’s recently released 2011 State and Local Government Finance Summary shows that Maryland ranked #14 in state and local tax collection and had the 5th highest personal income per capita among the states ($49,424). The blog post also examines Maryland’s state and local tax position when ranked as a percent of personal or corporate tax income.
At the state level, Maryland collected over $29 billion in state and local taxes, ranking 14th highest among the states. Maryland’s aggregate total for state and local governments ranked 8th in personal income revenue, 13th in corporate income tax revenue, 17th for property tax receipts, and 25th for general sales taxes. Roughly 36.5 percent of tax revenue in Maryland came from income taxes in 2011….
When ranked as a percent of personal income, Maryland’s position moves substantially down the list. According to the Center on Budget and Policy Priorities’ tabulations of the Census report data, the state ranked 39th highest for state and local personal income tax as a percent of personal income and 45th for corporate income tax and property tax as a percent of personal income. Overall for total taxes as a percent of personal income, Maryland ranked near the bottom at 41st place among the states.