State Codes and Statutes
Statutes > Maryland > Tax-general > Title-7 > Subtitle-2 > 7-204§ 7-204. Tax rate.
(a) "Clear value" defined.- In this section, "clear value" means fair market value minus expenses.
(b) Collateral tax rate.- The inheritance tax rate is 10% of the clear value of the property that passes from a decedent.
(c) Applicable rate before June 1, 1975.- If a decedent died on or before May 31, 1975, the rate of the inheritance tax is the rate in effect on the date of the decedent's death.
[An. Code 1957, art. 81, §§ 149, 150; 1988, ch. 2, § 1; 1996, ch. 367; 1999, ch. 635; 2000, ch. 497, § 1.]
