Baltimore Development Corporation (BDC) - Working to enhance your investment in Baltimore

Taxes

2005 State & Local Taxes

State Corporate Income Tax	7%
State Personal Income Tax	4.75%
Local Personal Income Tax	3.05% of taxable income
State Sales and Use Tax	5%

2005 State & Local Taxes

	LOCAL	STATE
Real Property Tax Rate per $100 *	$2.308	$0.084
Business Personal Property Tax Rate(based on depreciated value) **	$5.77	$0.000
R&D Machinery, equipment, materials and supplies	Exempt	Exempt
Manufacturing machinery, equipment, materials and supplies	Exempt	Exempt
Manufacturing/R&D inventory	Exempt	Exempt
Warehousing Inventory	Exempt	Exempt

* Real property in MD is appraised at market value and taxed on assessed value. The assessment was recently changed to full value, or 100 percent of market value. Both local and state real property taxes are applied to assessed value.

** Taxes are levied on the depreciated value of business personal property, which for most property is 10% annually to a minimum of 25% of the original cost.