Maryland Chamber President & CEO Kathy Snyder, CCE joined business representatives from across the state in Annapolis yesterday to urge the Business Tax Reform Commission to reject proposals that would increase taxes on Maryland businesses.
“At a time when companies are struggling to maintain their current levels of employment, I urge you to reject tax policy options that would make Maryland less competitive for jobs and investment,” Snyder said.
Specifically, Snyder outlined the Maryland Chamber’s opposition to combined reporting, gross receipts and alternative minimum taxes and expanding the sales tax to professional services. She outlined the Chamber’s support of reasonable measures to standardize and enhance data reported by businesses that receive state tax credits, as long as the requirements don’t lead to the disclosure of proprietary business information. View the Chamber’s testimony here.
The commission is wrapping up its work. Following last night’s hearing, there will be a voting session on November 16, and the commission is scheduled to approve its final report on December 13. The hearing was an opportunity for the public to comment on a variety of business tax proposals.
Business representatives from a wide variety of industries told Commission members that Maryland businesses needs a stable, predictable tax structure in order to encourage economic growth and job creation. Additional business tax increases during these tough economic times could stunt Maryland’s recovery.
“Many studies show that Maryland is a good place to do business due to our well educated workforce, quality of life and convenient location. However, studies also show that Maryland has work to do in order to improve its competitive position on business taxes,” Snyder said. “We urge you to reject business tax increases that would make Maryland a less favorable place to do business.”
We will keep you up to date as the commission finishes its work, and makes its recommendations to the Governor and General Assembly.
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