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January 25, 2025
Question

Is Savings Account Interest taxable in Maryland? I see that some 1099-INT income isn't taxable in MD but not sure if Savings Accounts apply. Thanks!

  • January 25, 2025
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    January 25, 2025

    Interest from savings accounts is taxable in Maryland. Certain interest income isn't taxable in Maryland, and that is interest  from Federal, State, and Municipal Bonds. ‌Here is ‌some information from the state of Maryland that discusses tax exempt interest: Maryland Administrative Release No. 13