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The Paley Rothman Blog

Paley Rothman shares this library of resources with clients and friends of the firm to help them stay ahead of legal and business developments and trends. Here, you will find helpful tips and tools written by our attorneys.

Tax

Shop Maryland Tax Free Week Coming August 10

Shop Maryland Tax-Free Week for 2014 is from 12:01 a.m. on Sunday, August 10, through midnight on Saturday, August 16, 2014. That means qualifying apparel and footwear (i.e., articles of apparel designed to be worn on or about the human body) $100 or less, per item, regardless of how many items are sold at the same time, are exempt from Maryland’s 6 percent sales tax.

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Estate Planning, Tax

MD Legislature Increases Estate Tax Exemption

The Maryland Senate passed a bill that increases the estate tax exemption gradually over the next 5 years, at which time the exemption will be tied to the federal exemption amount. The federal exemption is indexed for inflation, and is expected to approach $5.9 million by 2019. The House voted to pass the same legislation earlier this month. Governor Martin O’Malley is expected to sign the bill into law.

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