Maryland Code, TAX – GENERAL 2-1303
Terms Used In Maryland Code, TAX - GENERAL 2-1303
- County: means a county of the State or Baltimore City. See
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) revenues from the hotel surcharge into the Dorchester County Economic Development Fund established under § 10-130 of the Economic Development Article;
(2) to the Blueprint for Maryland’s Future Fund established under § 5-206 of the Education Article, the following percentage of the remaining sales and use tax revenues:
(i) for fiscal year 2023, 9.2%;
(ii) for fiscal year 2024, 11.0%;
(iii) for fiscal year 2025, 11.3%;
(iv) for fiscal year 2026, 11.7%; and
(v) for fiscal year 2027 and each fiscal year thereafter, 12.1%; and
(3) the remaining sales and use tax revenue into the General Fund of the State.