Fair Share for Maryland Act of 2025

SB 859, the "Fair Share for Maryland Act of 2025," is a comprehensive tax code revision affecting Maryland taxpayers and businesses. It modifies estate tax rules (capping the exemption at $2 million for decedents dying in 2016-2017), adjusts child tax credits by changing income thresholds and phase-out amounts, and imposes new business transportation fees on corporations and pass-through entities. The bill also limits net operating loss deductions, requires certain corporations to file combined tax returns, and adjusts income tax brackets for high earners. These changes directly impact estates, families claiming child credits, and businesses operating in Maryland, with automatic annual inflation adjustments for credit thresholds.