Using Foreign Income Exclusion and Foreign Tax Credit

[mdboy]

I am looking at taking a job with my company in Kenya and trying to figure out how painful this will be for me from a tax point of view before accepting.

Here is the situation:

Base salary in Africa: 140k / year
Housing provided: 36k / year
Car provided 7.5k / year
Location allowance 15.k /year

Taxable income in Kenya: 198.5 / year
Kenya taxes payable: 60k/ year
at 30% flat rate

Projected US Tax Situation:

Gross Income: 198.5
Foreign Income exclusion (92)
Net Income 106.5
US initial tax bill at 28% 30k

Foreign Tax Credit:

Earned overseas income 198.5
remove FEI 92
Net earned income 106.5
Kenya taxes paid on 106.5 31.9k

The above analysis show me coming out about even for Federal taxes. Is this correct!

Also, I can't figure out if my home state, Maryland, offers a tax credit for the Kenya taxes like the Feds do. Do I have to pay Maryland taxes on 106.5K assuming I don't want to "change my domicile" and all that entails.

Thanks for any help.