Wednesday, February 23, 2011
Chamber Opposes Combined Reporting
The Senate Budget and Taxation Committee heard legislation today that would impose a system of mandatory unitary combined reporting for corporate income taxes effective in 2012 (SB 305).
The Chamber strongly opposes this legislation because instituting combined reporting would make Maryland less competitive and cause huge shifts in tax liabilities among Maryland businesses. Such tax change is imprudent during the current recession. View the Chamber’s position statement.
The House Bill (HB 731) is scheduled for hearing on March 10 at 1:00 p.m. For more information, contact Maryland Chamber Vice President of Government Affairs Ron Wineholt at .(JavaScript must be enabled to view this email address).
Below is a video of Wineholt explaining the importance of opposing this bill.
