Combined Reporting Proposed in Maryland… Again

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For the fifth year running, legislation (SB 395) has been proposed in the Maryland General Assembly that will require affiliated corporations to compute their income tax liability using a combined reporting method. With the current version of the legislation being virtually identical to last year’s proposal, it’s unclear whether there is a realistic hope for the proposal being passed. Supports of the legislation label it as a loophole closer for large corporations that divert income to subsidiaries that are not taxable in the state, while opposition have pointed to the added compliance burden and complexity that will …read more

Read more here: Government Contracting

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