The GBC is already extremely active in the 2020 session of Maryland General Assembly, which kicked off January 8. Legislation the GBC has weighed in on includes proposals to tax digital advertising revenue, creation of a tax reform commission and measures to require corporations use a method of tax accounting known as combined reporting.
The GBC recently took these positions on proposed bills:
- Recommended that state lawmakers conduct a comprehensive review of the tax structure to identify potential new funding to improve public education called for under the Kirwan Commission, rather than attempt to pass individual new taxes, such as taxing targeted digital advertising in Maryland.
- Supported legislation that would create the Commission on Tax Policy, Reform, and Fairness. The commission would study the current revenue structure of the state, including income, sales, corporate, motor fuel, excise, and property taxes, tax exemptions and credits, and fees and make recommendations on or before December 1, 2021. The GBC is named as a member of the commission.
- Opposed two bills that would require combined reporting. One bill would require retailers and food services corporations to compute Maryland taxable income using combined reporting, while another bill would require the same of all corporations.
Follow where the GBC stands on these bills and other proposed state legislation here.
Subscribe to the GBC’s weekly State House Update newsletter: email@example.com
Also see: 2020 Legislative Priorities