Vote NO on combined reporting tax bills (SB 576/HB 46). These bills would increase taxes on businesses at a time when we need policies to promote jobs. In addition, when there is a high likelihood that we may be in a recession within the year, lawmakers should refrain from considering new taxes that would lead to less business investment in the state. Combined reporting is a complex business tax that creates winners and losers. Other states like VA, PA, and DE have rejected such policies. Why does Maryland keep pushing to impose combined reporting taxes? We need to promote efforts to make Maryland more competitive with our neighboring states, not less.

Please vote NO on combined reporting tax legislation (SB 576/HB 46). These tax bills would put Maryland at a competitive disadvantage with neighboring states like Virginia, Pennsylvania, and Delaware – states that have not imposed combined reporting taxes. We need to encourage job growth and policies that incentivize businesses to invest in our state. Implementation of combined reporting taxes have been considered several times in Maryland and it was a bad idea then and is still a bad idea now. Passing combined reporting taxes in Maryland will make it more difficult for the state to attract new businesses and investment, and work against efforts to create a growing, thriving economy. Maryland businesses play a critical role in our economy as they create jobs for our residents, generate tax income for the state and drive our economy forward. Implementing a new tax policy such as combined reporting will discourage businesses from choosing Maryland as their home, costing Marylanders access to jobs and economic opportunities. Vote NO on combined reporting taxes.

Vote NO on combined reporting tax bills (SB 576/HB 46). These bills would increase taxes on businesses at a time when we need policies to promote jobs. In addition, when there is a high likelihood that we may be in a recession within the year, lawmakers should refrain from considering new taxes that would lead to less business investment in the state. Combined reporting is a complex business tax that creates winners and losers. Other states like Virginia, Pennsylvania, and Delaware have rejected such policies. Why does Maryland keep pushing to impose combined reporting taxes? We need to promote efforts to make Maryland more competitive with our neighboring states, not less.

I am writing to urge you to vote NO on imposing combined reporting taxes in Maryland. Legislation has been introduced (SB 576/HB 46) that if enacted, would put Maryland at a competitive disadvantage with other states. These bills would have the dramatic effect of putting a “Closed for Business” sign on our doors. On the heels of the pandemic, we need to encourage business investment in the State of Maryland. We should be working on policies that encourage businesses to invest in our state. Combined reporting taxes would cause businesses to invest less in Maryland, meaning less job growth and tax revenue. Maryland already has a very high corporate tax rate. We should adopt policies that lower our corporate tax rate rather than imposing new combined reporting taxes on businesses. Vote NO on combined reporting taxes.

Please vote no on combined reporting tax legislation (SB 576/HB 46). These bills target businesses that invest in Maryland jobs and our economy. Now is not the time for more taxes in Maryland. We need policies that promote investment and job growth Combined reporting taxes will hurt Maryland employers and local jobs. In addition, many of the businesses that would be targeted by this legislation can easily move business operations to other states. If combined reporting taxed businesses leave the state, it will inevitably cause a domino effect on other local businesses in Maryland. The bill summary for the combined reporting tax notes that such policy creates business winners and losers. That’s not a policy Maryland should pursue! Vote no to combined reporting.