|
||||||||
 |
||||||||
Home | Category: Budget & TaxationJune 27, 2008SDAT Implements Controlling Interest Tax
The State Department of Assessments and Taxation is implementing procedures to enforce the new transfer and recordation tax on transfers of controlling interests in entities that own real property in... More»
An Overview of Maryland's Corporate Reporting Requirements
The Maryland Association of CPAs posted a great article outlining Maryland’s new corporate reporting requirements. The article provides and outstanding overview that is easy to understand. It was written by... More»
State Budget Update
Today’s Gazette of Politics and Business features a story detailing Maryland’s shaky budget situation and outlining the importance of the November 4 slots referendum. State revenues continue to tumble and... More»
June 25, 2008New Reporting Rules for Corporations to be Released Soon
The Comptroller’s Office sent this alert (pdf) to thousands of corporations regarding the new information reporting requirements. The new requirements are the result of legislation passed in the 2007 special... More»
April 29, 2008Maryland Chamber of Commerce Supports Slots Referendum
[Photo: Maryland Chamber Chairman Betty Buck, President of Buck Distributing Co., Inc.; Chamber President/CEO Kathy Snyder, CCE; and James W. Dyke, Jr., Esq., a Partner with McGuire Woods, LLP... More»
April 4, 2008House Committee to Hear Tech Tax Bill this Afternoon
The House Ways & Means Committee will hear SB 46 this afternoon. This bill, which was passed by the Senate yesterday, would repeal the sales tax on computer services, impose... More»
April 2, 2008Senate Committee Votes to Repeal the Tech Tax
The Senate Budget and Taxation Committee voted this afternoon to repeal the computer services sales tax. As an alternative, the committee: Increased the income tax rate for those earning more... More»
April 1, 2008Tech Tax Update - April 1
This story in today’s Washington Post outlined the latest updates regarding the potential repeal of the computer services sales tax. Based on what the Maryland Chamber has heard, it doesn’t... More»
No News is Good News on the Split Rate Property Tax Bill
There has been no action on legislation to authorize each county to establish classes of real and personal property and impose varying rates of taxation on each class (SB 561/HB... More»
March 26, 2008Corporate Reporting Requirements Bill Clears Both Houses
Legislation to moderate the onerous corporate reporting requirements adopted during the November 2007 special session was unanimously passed by both houses earlier this week. Passage of this legislation is a... More»
March 25, 2008Tech Tax Update
The 2008 General Assembly session ends on April 7. The Fight the Tech Coalition has been working hard all session to convince lawmakers to repeal the computer services sales tax... More»
March 24, 2008Legislation to Moderate Corporate Reporting Requirements Nears Passage
Legislation, SB 444 and HB 664, to moderate the onerous corporate reporting requirements passed during the November 2007 special session is moving through the legislature. During the special session, the... More»
March 20, 2008Additional Time to Apply for Manufacturing Personal Property Tax Exemption
The Maryland Chamber is advocating legislation, SB 981/HB 1609, to give manufacturers additional time to apply for and receive a personal property tax exemption on their machinery and equipment. Under... More»
March 14, 2008Comptroller's Office Releases Draft Regulations
The office of the Comptroller has released draft regulations and a frequently asked questions document regarding the computer services sales tax set to take effect on July 1. View them... More»
MD Chamber Urges Lawmakers to Support Changes to Corporate Reporting Requirements
Earlier this week, the Maryland Chamber of Commerce encouraged two key committees to pass legislation to moderate the onerous corporate reporting requirements passed during the November 2007 special session. During... More»
March 13, 2008Maryland Chamber Opposes Income Tax Increase
Today’s Baltimore Sun reports that momentum is building in Annapolis for a plan to increase Maryland’s individual income tax on high wage earners. The bill, SB 1004 would establish two... More»
Tech Tax Opponents Rally in Annapolis
The Maryland Chamber, in partnership with the Fight the Tech Tax Coalition Partners, yesterday urged Maryland lawmakers to repeal the computer services sales tax enacted during the November 2007 special... More»
March 6, 2008Talking Business With Steny Hoyer
The U.S. Chamber sat down with Maryland Congressman, and House Majority Leader, Steny Hoyer to discuss the Democrats’ progress so far and the business agenda ahead. uschamber.com: How would you... More»
March 5, 2008March 12: Rally in Annapolis to Repeal the Tech Tax
Join us for a rally in Annapolis on March 12 to help send lawmakers a clear message. The tech tax is a threat to Maryland’s future. It must be... More»
March 11: Join us For a Tech Tax Discussion in Baltimore
Whiteford, Taylor & Preston LLP and Watkins, Meegan, Drury & Company LLC will host a lively discussion about the tech tax and its implications at 3:30 p.m. on March 11... More»
February 28, 2008Oppose Discriminatory Property Tax Changes
The Maryland Chamber strongly opposes legislation (HB 676) that would authorize each county to establish classes of real and personal property and impose varying rates of taxation on each class.... More»
February 20, 2008Attention Business Property Owners
Legislation (SB 561/HB 676) has been introduced that would authorize counties to specify the classes of property that are subject to real and personal property taxation and to vary the... More»
February 18, 2008February 27 - Save Maryland IT Day
Join us in Annapolis on February 27 for Save Maryland IT Day, a media event and lobbying day to advocate the repeal of the computer services sales tax. This... More»
February 7, 2008Legislation Would Moderate Onerous Corporate Reporting Requirements
During the November 2007 special session, the Maryland General Assembly passed legislation creating the Maryland Business Tax Reform Commission. The Commission will review and evaluate the state’s current business tax... More»
House Tech Tax Hearing Scheduled for March 12
The House Ways & Means Committee will hear the computer service sales tax bills on Wednesday, March 12 at 1 p.m. Mark you calendars. No word on a Senate hearing... More»
January 29, 2008Computer Services Sales Tax Bills
So far, lawmakers have introduced 11 bills to repeal or alter the computer services sales tax passed during the special session. We just posted a special page on our... More»
January 23, 2008Majority of Delegates Call for Repeal of Computer Services Sales Tax
Seventy-two of the 141 members of the Maryland House of Delegates have signed on as co-sponsors of a bill that would repeal the computer services sales tax enacted during the... More»
January 18, 2008New Corporate Reporting Requirements
Legislation was passed during the November 2007 special session to create the Maryland Business Tax Reform Commission. The Commission will review and evaluate the state’s current business tax structure and... More»
January 10, 2008Fight the Tech Tax
Together with the Tech Council of Maryland and many other local chambers, business organizations and companies throughout the state, we are launching a coalition to repeal the tax, which... More»
January 8, 2008Members in the News: Computer Services Sales Tax
Yesterday, two Maryland Chamber members were featured in news reports regarding their reactions to the computer services sales tax passed during the 2007 special session and set to take effect... More»
January 2, 2008Sun Editorial: Lawmakers Acted Rashly in Passing the Tech Tax
In its lead editorial today, “Much ado about little,” the Baltimore Sun slipped in a reference to the computer services sales tax that’s worth illuminating: The legislature’s actions last year... More»
December 26, 2007Editorial: Mystery Tax
The Capital ran the following editorial on December 21: Mystery tax PERHAPS IT’S no surprise that a coalition, Ax the Tech Tax, has already formed to advocate repeal of the... More»
Miller "Not of a Mood" to Repeal Computer Services Sales Tax
Sunday’s Washington Post featured an item from John Wagner indicating that Senate President Mike Miller is “not of a mood to repeal the computer services tax.” Here is the complete... More»
December 17, 2007Maryland Chamber's 2008 Business Agenda
The Maryland Chamber’s Board of Directors recently approved its 2008 Business Agenda. Priorities for the 2008 General Assembly session include: Repealing the hastily adopted sales tax on computer services. Revising... More»
December 10, 2007Computer Services Sales Tax News Links
Here are a couple recent articles and editorials about Maryland’s computer services sales tax. Computer Services Firms Want Sales Tax Repealed The Washington Post Repeal sought for computer tax Baltimore... More»
December 7, 2007The Latest on the Computer Services Sales Tax
Today’s Gazette of Politics and Business features a story detailing what some lawmakers are saying about the recently enacted sales tax on computer services. Read the full story here. Sen.... More»
December 4, 2007Do You Have Questions About the Computer Services Sales Tax?
Maryland Chamber State Taxation Consultant Karen Syrylo, CPA met today with Deputy Comptroller Linda Tanton to discuss the computer services sales tax. The Maryland Chamber has made repealing the new... More»
November 30, 2007Chamber to Discuss Computer Service Tax on MPT Next Week
Tune in to MPT’s Your Money & Business program Thursday, December 6 at 7:30 p.m. on MPT to learn more about the recently passed sales tax expansion to computer services... More»
Maryland's Computer Service Tax Includes Web Design
I talked with a few technology companies yesterday and they asked if web design services were a part of the recently enacted legislation expanding the sales tax to computer services.... More»
November 20, 2007How They Voted: Sales Tax Expansion to Computer Services
During the House floor debate on the tax bill that was signed into law yesterday (SB 2), Del. Jeannie Haddaway (R-Dist. 37) introduced an amendment to remove the language expanding... More»
November 19, 2007Special Session Results in $800 Million in New Business Taxes
The General Assembly concluded its 3 week special session today by enacting $1.4 billion in new taxes, $400 million in possible future state budget reductions, and authorizing slots at up... More»
Summary of Special Session Legislation
The special session is over. The Maryland Chamber will post more details and analysis of the new tax laws later today. The Department of Legislative Services has posted a great... More»
November 18, 2007Report: Tax Bill to Include Sales Tax on Computer Services
The Baltimore Sun is reporting that negotiators from the State Senate and House of Delegates have reached an agreement on the tax package this afternoon. The most notable element is... More»
November 16, 2007Friday Morning Update -- 11/16/07
We’re back from the Business Policy Conference. Thanks to everyone who made the trip to Cambridge despite the special session. I plan to post many of the PowerPoint presentations, and... More»
November 12, 2007How They Voted: Special Session Tax Bills
The Maryland Senate and the House of Delegates passed different versions of Governor Martin O’Malley’s tax package. To find out how your legislators voted, click here. Here are the roll... More»
November 11, 2007House Passes Its Version of Tax Plan
The House of Delegates passed its version of the tax package early this morning. The good news is that the House rejected proposals to expand the sales tax to services.... More»
November 10, 2007Special Session Update - November 10
Here is the status of the Governor’s legislation pending in the special session of the General Assembly: Senate The Senate has passed each of the Governor’s bills to the House.... More»
November 9, 2007House Plan: Combined Reporting, Higher Corporate Income Tax, Sales Tax on Repair Services
The House of Delegates is moving their version of the tax package today. Key elements include: Imposing mandatory unitary combined reporting. Increasing the corporate income tax from 7 percent to... More»
Franchot: Reject Sales Tax on Computer Services
Maryland Comptroller Peter Franchot sent a letter to House Speaker Michael Busch urging the House to reject the sales tax expansion to computer services. “While I am frustrated by the... More»
November 8, 2007Urge Your Legislators to Oppose Sales Tax Expansion
The Maryland Senate is expected to take action today, during an 11 a.m. session, on an amended version of SB 2, the Tax Reform Act of 2007. For a complete... More»
November 7, 2007Sales Tax on Computer Services Amendment
Here is a copy of the amendment (pdf) regarding the expansion of the sales tax to cover computer services. The definition of computer services include: Computer facilities management and operations;... More»
More Details on Sales Tax on Computer Services
We haven’t seen the language defining the specific computer services covered by the sales tax expansion approved yesterday by the Senate Budget and Taxation Committee, but here are the services... More»
November 6, 2007Sales Tax on Computer Services
The Senate Budget & Taxation Committee just approved an amendment to strike the sales tax on services listed in SB2 (real property management services and tanning, massage, physical fitness, sauna,... More»
More Changes to the Tax Plan
Andy Green has posted a great summary of the expected changes to the Governor’s tax plan on the Baltimore Sun’s General Assembly Blog. View the complete post here. Changes include:... More»
Sales Tax Expansion Update: Computer Services and Landscaping
This morning, the House Ways & Means Committee’s Revenues Subcommittee received a briefing about the tax package the Senate Budget and Taxation Committee is expected to approve later today. We... More»
November 3, 2007Legislation to Increase Filing Fees to $1,000 is Back
Another bill being heard by the House Ways & Means Committee today would increase the annual report filing fees of all business entities from $300 to $1,000 — HB 55.... More»
Lawmakers to Consider Expanding Sales Tax to Services
The House Ways & Means Committee is hearing a number of tax bills today, including HB 11, which would expand the sales tax to cover many professional services, including: Management... More»
November 2, 2007Green Fund Costly For Business
The Green Fund bill is being heard in the House Environmental Matters Committee today. The bill would impose an impervious surface fee assessed on residential, commercial, industrial, and institutional properties.... More»
Maryland Chamber Supports Slots
The slots hearing kicked off at 11 a.m. this morning. Hundreds of slots supporters filled Lawyers’ Mall in front of the Statehouse for a pre-hearing rally. Maryland Chamber Vice President... More»
Business Impact of a Personal Income Tax Rate Increase
The Senate Budget & Taxation Committee and House Ways & Means Committee heard the personal income tax rate increase proposal yesterday. The proposal would increase the individual income tax rate... More»
November 1, 2007Looking For More Budget Reductions
The House Appropriations Committee met today for a Department of Legislative Services briefing on potential budget reductions. To view a pdf of the presentation, click here. Chamber Vice President of... More»
Chamber Opposes Expansion of Sales Tax to Property Management Services
Maryland Chamber State Taxation Consultant Karen Syrylo, CPA, this afternoon testified in opposition to a proposal that would expand Maryland’s sales tax base to apply to real property management services.... More»
Chamber Opposes Property Tax Cut
Maryland Chamber Vice President of Government Affairs Ron Wineholt testified earlier today in opposition to the proposed state real property tax rate reduction because it will require at least $224... More»
October 31, 2007Corporate Tax Hearing Wrapup
This afternoon, the House Ways and Means, House Appropriations, and Senate Budget and Taxation Committees held a joint hearing on a number of corporate tax proposals — namely a corporate... More»
Trick or Treat: Bill Would Expand Sales Tax to Professional Services
Saturday, November 3, the House Ways & Means committee will hear legislation to expand the sales tax to professional services, HB 11. Services being considered for taxation include: Management and... More»
October 30, 2007Maryland Chamber Opposes the Elimination of Electric Generation Tax Grants
Maryland Chamber Vice President of Government Affairs Ron Wineholt provided testimony today in opposition to provisions of the Budget Reconciliation Act (SB1/ HB1) that would eliminate $31 million in annual... More»
Maryland Chamber Urges Lawmakers to Restrain Spending
During a joint hearing of the House Appropriations, House Ways and Means, and Senate Budget and Taxation Committees today, Maryland Chamber Vice President of Government Affairs Ron Wineholt urged lawmakers... More»
State Spending and Revenues
The Maryland Department of Legislative Services presented lawmakers with an overview of the State budget this morning during a joint hearing of the House Appropriations, House Ways and Means,... More»
October 29, 2007Chamber on the WBAL Today
Maryland Chamber Vice President of Government Affairs Ron Wineholt will discuss the special session with former State Senator Clarence M. Mitchell. IV (C4) today, between 12:30 p.m. and 1 p.m.,... More»
October 25, 2007Special Session Begins Monday -- Contact Your Legislators Today
Governor Martin O’Malley has called the General Assembly into a special session, which will begin Monday October 29. As legislators convene next week, they are expected to take up the... More»
October 23, 2007Special Session Hearing Schedule Posted
The Maryland General Assemby posted the special session public hearing schedule (pdf) on its website today. The corporate tax legislation — rate increase, controlling interest and combined reporting — will... More»
October 18, 2007Special Session Approaches with Billions at Stake
Governor Martin O’Malley has called the General Assembly into a special session starting October 29 that promises to be a wild roller coaster ride of unknown duration and destination. The... More»
October 15, 2007Governor O'Malley Calls For Special Session
Governor Martin O’Malley today called for a special session of the General Assembly to begin two weeks from today, on October 29. The purpose of the special session will be... More»
October 5, 2007Daily Record: A Taxing Matter for Business
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... More»
October 2, 2007Chamber President Featured in the Frederick Chamber's Connector
The October edition of the Frederick Chamber of Commerce’s Connector newsletter, which was published today as an insert in the Frederick News-Post, features a column by Maryland Chamber President &... More»
October 1, 2007WSJ: Tax 'Fairness' in Action
Today’s Wall Street Journal features an editorial entitled “Tax ‘Fairness’ in Action,” that begins, “Every state has its problems, but we’re especially glad this month that we don’t live in... More»
September 25, 2007Governor O'Malley Introduces Slots Plan
Governor Martin O’Malley today released some preliminary details about his slots proposal. The Maryland Chamber applauds the Governor for including a slots proposal as part of his plan to deal... More»
Letter to the Editor: Controlling Interests
On September 15, the Baltimore Sun ran a letter to the editor by Lawrence F. Haislip on the topic of controlling interests. I’m finally getting around to posting it here.... More»
September 21, 2007Back to the Future: Captive REITs, Holding Companies, Combined Reporting
Jay Hancock from the Baltimore Sun posted an item to his blog about the Governor’s corporate tax announcement. A Chamber member pointed out that the examples he uses to make... More»
The Facts About Combined Reporting
Governor Martin O’Malley today introduced his plan to adopt unitary combined reporting. Combined reporting is a fundamentally different system of computing taxes with a new set of problems. Under current... More»
September 20, 2007Business Coalition Releases Tax Study
Today, we joined together with a coalition of Maryland business organizations to release a study analyzing the economic and fiscal impacts of tax policy options being discussed by state policy... More»
September 11, 2007Maryland Corporate Tax Facts
Recent news accounts and editorials have repeated the claim that only half of large corporations pay corporate taxes to the State of Maryland. A recent commentary by two State Senators... | ||||||||
