Senate Budget and Taxation Committee Chairman Edward Kasemeyer told a Howard County Chamber of Commerce breakfast Wednesday that he personally favored rolling back Maryland’s corporate income tax by 1/4% a year for several years. This would bring Maryland’s 8.25% corporate tax rate – raised four years ago from 7% – closer to Virginia’s 6% rate.
Read MoreMaryland needs to be more business friendly than Virginia to create more jobs and stabilize the state’s economy, a panel of business leaders told the Senate Budget and Taxation Committee Tuesday. The hearing, scheduled to discuss corporate taxes and job creation, zeroed in on how Maryland needs to become a better place to do business than neighboring Virginia, which panelists said is the state’s only real competition in terms of getting businesses and creating jobs.
Read MoreDuring a two-hour-long parade of witnesses before the Business Tax Reform Commission on Tuesday night, one point came through repeatedly: what is best for the state’s corporate tax code is not obvious.
Person after person came before the commission with impassioned recommendations, most of them dealing with combined reporting.
Read MoreAfter spending two years listening to experts share ideas and proposed policies, the Maryland Business Tax Reform Commission tonight will listen to what the public has to say.
Since the commission began meeting in 2008, they have been learning about the state’s current corporate and business taxation laws, as well as different ways used elsewhere to assess and collect corporate taxes. At 6:30 p.m. today in the Joint Hearing Room of the Legislative Services Building, commission members will open the floor to members of the public who wish to share their ideas or thoughts with them.
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