Bill > HB952

This bill proposes to phase in, over a 3-year period, an increase in the subtraction modification under the Maryland income tax to allow for the subtraction of all military retirement income, beginning in taxable year 2026. Specifically, for taxable years 2024 and 2025, the bill increases the subtraction to either the first $20,000 of military retirement income or 50% of the total military retirement income, respectively. The bill then allows for the subtraction of all military retirement income starting in taxable year 2026.