Updated October 23, 2025
Capital Gains: Varies (2% - 5.75% state + 1.75% - 3.2% local)Income Tax: Varies (2% - 5.75% state + 1.75% - 3.2% local)Quick Facts: Maryland, United States Crypto Taxes
Capital Gains Tax
Varies (2% - 5.75% state + 1.75% - 3.2% local)Income Tax Rate
Varies (2% - 5.75% state + 1.75% - 3.2% local)Tax Summary
Maryland taxes cryptocurrency similarly to federal guidelines, treating it as property. State income tax applies to crypto gains and income. Local county taxes also add to the burden.
Capital Gains Tax
Varies (2% - 5.75% state + 1.75% - 3.2% local)• Crypto capital gains are classified as ordinary income in Maryland.
• State taxes long-term and short-term gains at regular income tax rates.
• No specific exemptions for crypto; general $2,500 deduction for capital losses applies.
• Thresholds follow federal rules, with state adjustments possible.
• State taxes long-term and short-term gains at regular income tax rates.
• No specific exemptions for crypto; general $2,500 deduction for capital losses applies.
• Thresholds follow federal rules, with state adjustments possible.
Income Tax
Varies (2% - 5.75% state + 1.75% - 3.2% local)• Mining income is taxed as ordinary income at receipt in Maryland.
• Staking rewards are taxed as ordinary income when received.
• State follows federal classification for crypto income.
• Deduct mining expenses if business-related.
• Staking rewards are taxed as ordinary income when received.
• State follows federal classification for crypto income.
• Deduct mining expenses if business-related.
Reporting Requirements
• Report crypto gains and income on state tax return.
• Use Maryland Form 502 for residents.
• File by April 15, or extended deadline matching federal.
• Use Maryland Form 502 for residents.
• File by April 15, or extended deadline matching federal.
Special Notes
• Maryland has no sales tax on crypto transactions.
• Recent IRS guidance on airdrops and forks applies at state level.
• Consult a tax professional for county-specific local taxes.
• Recent IRS guidance on airdrops and forks applies at state level.
• Consult a tax professional for county-specific local taxes.
Other US States
Compare state-level crypto tax differences across the United States.
Alabama
CG: 2-5%Income: 2-5%
Alaska
CG: 0%Income: 0%
Arizona
CG: 2.5%Income: 2.5%
Arkansas
CG: Varies (0% - 4.9%)Income: Varies (0% - 4.9%)
California
CG: 1-13.3%Income: 1-13.3%
Colorado
CG: 4.4%Income: 4.4%
Connecticut
CG: 3-6.99%Income: 3-6.99%
Delaware
CG: 0% - 6.6%Income: 0% - 6.6%
Florida
CG: 0%Income: 0%
Georgia
CG: 1-5.75%Income: 1-5.75%
Hawaii
CG: 1.4% - 11%Income: 1.4% - 11%
Idaho
CG: 0-5.8%Income: 0-5.8%
Illinois
CG: 4.95%Income: 4.95%
Indiana
CG: 3.05% state + 0-3.38% countyIncome: 3.05% state + 0-3.38% county
Iowa
CG: Varies (4.40% - 6.00%)Income: Varies (4.40% - 6.00%)
Kansas
CG: 3.1-5.7%Income: 3.1-5.7%
Kentucky
CG: 4.5%Income: 4.5%
Louisiana
CG: 1.85% - 4.25%Income: 1.85% - 4.25%
Maine
CG: 5.8% - 7.15%Income: 5.8% - 7.15%
Massachusetts
CG: 5-12%Income: 5%
Michigan
CG: 4.25%Income: 4.25%
Minnesota
CG: 5.35% - 9.85%Income: 5.35% - 9.85%
Mississippi
CG: 0-5%Income: 0-5%
Missouri
CG: 1.5-5.3%Income: 1.5-5.3%
Montana
CG: 1%-6.9%Income: 1%-6.9%
Nebraska
CG: 2.46% - 6.64%Income: 2.46% - 6.64%
Nevada
CG: 0%Income: 0%
New Hampshire
CG: 0%Income: 0%
New Jersey
CG: 1.4% - 10.75%Income: 1.4% - 10.75%
Maryland Crypto Tax FAQ
Maryland taxes cryptocurrency similarly to federal guidelines, treating it as property. State income tax applies to crypto gains and income. Local county taxes also add to the burden.
The state-level capital gains treatment in Maryland is currently listed as Varies (2% - 5.75% state + 1.75% - 3.2% local).
• Report crypto gains and income on state tax return.
Compare With Other Countries
Disclaimer: This information is AI-generated and for educational purposes only. Tax laws are complex and subject to change. Always consult with a qualified tax professional for advice specific to your situation.