Maryland legislation · 2026 Regular Session
Maryland HB690: Corporate Income Tax - Rate Reduction (Economic Competitiveness Act of 2026)
Status: In committee, February 3, 2026
Decreasing, over 4 taxable years, the State corporate income tax rate from 8.25% to 6.25%.
What the bill says
A bill ENTITLED AN ACT concerning Corporate Income Tax - Rate Reduction (Economic Competitiveness Act of 2026) FOR the purpose of altering, over a certain period of years, the State income tax rate on the Maryland taxable income of corporations; and generally relating to the Maryland corporate income tax. BY repealing and reenacting, with amendments, Article - Tax - General Section 10-105(b) Annotated Code of Maryland (2022 Replacement Volume and 2025 Supplement).
From the introduced text, February 3, 2026:
A BILL ENTITLED AN ACT concerning Corporate Income Tax - Rate Reduction (Economic Competitiveness Act of 2026) FOR the purpose of altering, over a certain period of years, the State income tax rate on the Maryland taxable income of corporations; and generally relating to the Maryland corporate income tax. BY repealing and reenacting, with amendments, Article - Tax - General Section 10-105(b) Annotated Code of Maryland (2022 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - Tax - General 10-105. (b) The State income tax rate for a [corporation is 8.25% of Maryland taxable income] CORPORATION'S MARYLAND TAXABLE INCOME IS: (1) FOR A TAXABLE YEAR BEGINNING AFTER DECEMBER 31, 2025, BUT BEFORE JANUARY 1, 2027, 8.25%; (2) FOR A TAXABLE YEAR BEGINNING AFTER DECEMBER 31, 2026, EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW. [Brackets] indicate matter deleted from exist in g l aw . *hb0690* HOUSE BILL BUT BEFORE JANUARY 1, 2028, 7.75%; (3) FOR A TAXABLE YEAR BEGINNING AFTER DECEMBER 31, 2027, BUT BEFORE JANUARY 1, 2029, 7.25%; (4) FOR A TAXABLE YEAR BEGINNING AFTER DECEMBER 31, 2028, BUT BEFORE JANUARY 1, 2030, 6.75%; AND (5) FOR A TAXABLE YEAR BEGINNING AFTER DECEMBER 31, 2029, 6.25%. SECTION 2. AND BE IT …
Sponsors
- Wayne Hartman (R, HD-038C) · primary sponsor
- Christopher Adams (R, HD-037B)
- Kevin Anderson (R, HD-038)
- Steven Arentz (R, HD-036)
- Lauren Arikan (R, 7B)
- Terry Baker (R, 1C)
- Barry Beauchamp (R, 38B)
- Jason Buckel (R, HD-001B)
- Brian Chisholm (R, 31)
- Barrie Ciliberti (R, HD-004)
- Robin Grammer (R, HD-006)
- Michael Griffith (R, HD-035B)
Latest actions
- : Hearing 2/19 at 1:00 p.m.
- : First Reading Ways and Means
Common questions
- What is HB690?
- HB690 is a bill in the Maryland Legislature (2026 Regular Session): Corporate Income Tax - Rate Reduction (Economic Competitiveness Act of 2026).
- What does HB690 do?
- In its own words: A bill ENTITLED AN ACT concerning Corporate Income Tax - Rate Reduction (Economic Competitiveness Act of 2026) FOR the purpose of altering, over a certain period of years, the State income tax rate on the Maryland taxable income of corporations; and generally relating to the Maryland corporate income tax. BY repealing and reenacting, with amendments, Article - Tax - General Section 10-105(b) Annotated Code of Maryland (2022 Replacement Volume and 2025 Supplement).
- What is the status of HB690?
- In committee as of February 3, 2026. Latest action: Hearing 2/19 at 1:00 p.m. (February 3, 2026).
- Who sponsored HB690?
- Wayne Hartman (R, HD-038C), with 11 co-sponsors.
- Where is the official record for HB690?
- On the Maryland Legislature website: https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/hb0690?ys=2026RS
Source: official Maryland record. Tracked by Delilah, AI for legislation across all 50 states and Congress.