It is natural to ask, “How much will I get for unemployment in Maryland?” if the citizens of Maryland have landed in the unfortunate situation of losing a job.
For those trying to survive change through seeking unemployment insurance, this question is very normal. Additionally, if you are in need of health insurance during this time, be sure to explore the Maryland Health Connection for affordable healthcare options.
In this article, we will outline the various factors that influence what you receive as unemployment benefits in the state of Maryland and how the unemployment benefits claiming system works.
Unemployment Benefits in Maryland
Unemployment benefits are offered to individuals that meet specific criteria and who have lost their employment in situations that were not their mistake. Benefits are usually given based on an individual’s past earnings, and there is a method for this in Maryland.
Unemployment Eligibility In Maryland
Prior to figuring out how much you will get for unemployment in Maryland, it is very important to determine if you are eligible for such kinds of benefits. Here’s what you need in order to be eligible:
- Job Loss Reason: You must have lost your job for reasons out of your control, like but not limited to company layoffs, closure etc. If you left voluntarily or you were dismissed because of your wrongful intentions, then you may not be eligible.
- Wage Requirements: For conference days lost due to unemployment, you must have earned enough wages in the primary earnings period as the first four of the last five completed calendar quarters before the date when the claim is filed.
- Availability to Work: You need to be willing to obtain a job and ready to take part in looking for a job.
After the eligibility is set, the next step is to understand how much will I get for unemployment in Maryland.
How to Calculate Your Unemployment Benefits in Maryland?
The amount of unemployment benefits in Maryland is calculated on the basis of the previous earnings of an individual and has a specific calculation. A more detailed consideration is as follows:
Base Period Calculation
The method “base period” is the one currently used in awarding unemployment benefits in the state of Maryland. The base period is a time frame of 12 months, of the first four of the last five completed calendar quarters immediately preceding the date of the Claim’s lodgement.
For instance, if I make a claim for unemployment benefits in June 2024, the base period that will be applied will be from January 2023 to December 2023. The wages earned within this duration shall determine how much you will get for unemployment in Maryland.
Weekly Benefit Amount (WBA)
The Weekly Benefit Amount (WBA) determines how much you may expect to receive weekly in the form of unemployment benefits. In the State of Maryland, the minimum WBA is set up at $50 while the maximum WBA stands at $430. The WBA of the beneficiary is formed by about 1/24 of the maximum quarterly wages in any of the base periods.
Here is how it looks:
| Previous Earnings in Highest Quarter | Approximate Weekly Benefit Amount (WBA) |
|---|---|
| $1,200 | $50 (minimum) |
| $10,000 | $430 (maximum) |
In case the individual’s economic ABCDE earnings are less than $1200 during the last quarter of the base period, typically they would be able to collect the lowest benefit amount of 50 dollars every week.
However, if he/she earned even more their benefit will be calculated towards the set maximum of $430 on a weekly basis.
How Long Can I Claim Unemployment Benefits?
Now that you understand how much you will get for unemployment in Maryland, you may also wish to find out the period which such benefits can be claimed.
Duration of Benefits
In the State of Maryland, the time frame within which the individual can claim the unemployment benefits from the insurance generally ranges up to 26 weeks.
However, this duration may be extended with the federal programs within some period of economic turmoil or increased unemployment. Each week you will be getting your WBA if there are no changes to the eligibility requirements and you remain eligible.
For example:
Say your WBA is $300, and you are even permitted for 26 weeks, in other words, you could receive a maximum of $7,800.
Nonetheless, you have to remain looking for work and fulfil all other conditions in order for you to be able to continue drawing benefits.
While these specific programs may have ceased to exist, there is still the need to keep track of any such assistance to the unemployed that is federal or state within the country.
Taxation of Unemployement Benefits In Maryland
It is often overlooked that unemployment benefits are subject to taxation by many people. With that in mind, how much will I get for unemployment in Maryland given the taxes?
You are allowed to have federal miscellaneous taxes deducted from your unemployment benefits, if you would like to do so.
For the federal taxes it is a 10% withholding for all other taxes barring medicare and social security. Maryland does not, however, withhold state taxes at that time, but this may be requested.
If tax withholding is opted for, it will reduce the weekly benefit amount, however it will avert a situation where there is a huge tax demand at the end to the year. For instance:
Where the federal tax withholding option is selected for weekly benefits amounting to $430, $387 will be paid weekly since 10% tax has withheld.
This allows you to have some peace of mind at tax times since part of it has already been settled.
Conclusion
When someone asks, “How much will I get for unemployment in Maryland?”, I know that they consider lots of specific details: how much they earned prior to loss of employment, what is the base period income, and what is the tax component.
Noted above these WBA is from $50 to $430 and the maximum benefit period of 26 weeks brings about temporary financial assistance to the unemployed. However, it is recommended that effort for employment must be employed continuously in order to gain receipt of such payments.
Also, remember to take into consideration the possibility of federal or state program suspensions or alterations of the amount of your benefit amount during some kind of illness such as COVID-19.
