Wednesday, February 08, 2012
Combined Reporting Hearing is February 22
Legislation (SB 269) to impose a system of mandatory unitary combined reporting for corporations will be heard by the Senate Budget & Taxation Committee on Wednesday, February 22.
The Maryland Chamber opposes combined reporting because it would cause huge shifts in tax liabilities among Maryland businesses engaged in interstate commerce. Such a tax change is ill-advised in the current economic climate. The Maryland Business Tax Reform Commission evaluated the state’s business tax structure, and recommended against implementing combined reporting at this time. Maryland’s competitor states do not use combined reporting.
If this issue impacts your business, and you’d like to testify during the hearing, contact Ron Wineholt at .(JavaScript must be enabled to view this email address).
