Withholding is a combination ofthe State income tax, which has rates graduated per taxable income, (see chart below) and local taxes. Employees wishing to adjust their withholding to reflect married status should complete a new Maryland Form MW507, as well as federal Form W4.Montgomery County offers two strong tax incentive programs for companies seeking to locate, maintain, or expand their business in our community. Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address. At the top of the Business Personal Property Tax Return, copy the complete legal name of the business and the. Township Taxes for 2024.