Trump Accounts in Maryland: State Tax Treatment
By Forrest Baumhover, CFP®, EA · Last verified September 2, 2026
Whether Maryland taxes a Trump Account's growth and distributions the way the IRS does — checked against Maryland's own conformity law, not a national summary.
Does Maryland follow the federal rule?
Maryland uses "rolling" (current) conformity: its income tax code follows the Internal Revenue Code as it currently stands, not a fixed historical date. A federal change — including §530A, added by the One Big Beautiful Bill Act (OBBBA, Public Law 119-21, enacted July 4, 2025) — applies for Maryland income tax purposes the same way it does federally, without the legislature needing to act separately, unless Maryland has specifically decoupled from that provision.
What this means for a Trump Account in Maryland
Based on that mechanism, Maryland currently follows the federal §530A treatment: contributions and growth are not separately taxed by the state before distribution, the same deferral the federal rule provides.
A note on this determination
Maryland's default rule decouples from any IRC amendment affecting federal AGI in its enactment year unless the Comptroller certifies the revenue impact is under $5 million, in which case it conforms currently. The Comptroller's own OBBBA Tax Alert names only §174A research expensing, the business-interest limitation, and §168(n) as decoupling items — §530A does not appear, meaning it falls under the default rolling conformity.
Back to the full picture
See the Trump Accounts hub for the federal contribution and distribution rules this state-tax determination builds on, and the state-by-state conformity library for how Maryland compares to other states.