Corporate Income Tax - Rate Reduction (Economic Competitiveness Act of 2025)

SB 836 reduces Maryland's corporate income tax rate over a five-year period, directly affecting corporations operating in Maryland that pay state income tax. It lowers the rate from 8.25% (for 2025) to 7.75% (2026-2027), then to 7.25% (2027-2028), 6.75% (2028-2029), and finally 6.25% (starting in 2029). The bill phases these changes through specific tax year ranges, with the full reduction effective July 1, 2025. This policy aims to adjust Maryland's corporate tax structure without altering the tax base or other provisions.