Today’s Daily Record takes a look at how the proposed personal income tax increase would impact Maryland businesses. The story examines how the individual income tax increase will impact pass-through entities like proprietorships, partnerships, limited liability companies, and S-corporations. Profits and losses of these entities are passed through to the individual income taxes of the business owner or shareholders.

In the most recent fiscal year, 74,229 companies filed corporate income tax returns with the comptroller’s office, while 157,496 filed a different type of return which showed that their earnings had been passed through to owners or stakeholders — and would be subject to the personal income tax.

Read the full story here (pdf).