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PGCARES

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Prince Georgians Care
Articles Posted: 0  Links Seeded: 3068
Member Since: 1/2007  Last Seen: 5/15/2012

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Legislators pass slots measures

Seeded on Sat Nov 24, 2007 3:39 PM EST
Read ArticleArticle Source: gazette.net
politics, taxes, maryland, prince-georges, dcmetro
Seeded by PGCares
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...The legislature cut about $213.9 million in aid to counties. Prince George's will lose $40.4 million, the most of any jurisdiction.

The tax increases include a new schedule for income taxes, which push percentages to 5 percent, 5.25 percent and 5.5 percent. Most income now is taxed at 4.75 percent.

Offsetting the new brackets are increases in the personal exemption and the earned income tax credit. The state will net $28.1 million from all the income tax changes.

Prince George's County will lose about $7.6 million in local tax revenues, in part because of the changes in exemptions, which mean less income will be taxed, according to an analysis by the legislature's budget analysts....

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