Fair Share for Maryland Act of 2025

HB 1014, the "Fair Share for Maryland Act of 2025," makes significant changes to Maryland's tax code affecting residents, businesses, and estates. It adjusts estate tax calculations to maintain Maryland's tax rate despite potential federal changes, imposes a business transportation fee on corporations and pass-through entities, and expands eligibility for the earned income tax credit by lowering income thresholds for individuals without qualifying children. The bill also requires annual inflation adjustments for tax credit phase-out amounts, limits net operating loss deductions, and modifies child tax credit eligibility. These changes directly impact Maryland taxpayers, businesses, and families relying on state tax credits.