Taxation
Our policy focus on taxation issues in Maryland
Our focus: Taxation
We support tax policy reform that reduces the cost of doing business. It is our goal to strengthen the state’s competitive tax climate to help attract and retain businesses, talent and investment.
Key Issues Include
- Reduction of corporate income tax
- Income tax modifications and/or credits that incentivize knowledge and specialized skills retention of retirees for business support and growth in Maryland
- Competitive business income tax structures that incentivize business and job retention and growth in Maryland.
Related Policy Priorities & Anticipated Issues for 2024
- Business Tax Environment, Combined Reporting and Throwback Rule: We oppose the adoption of tax reapportionment schemes such as the “throwback rule,” mandatory unitary combined reporting, or any other system which creates an economic disadvantage for Maryland businesses. Combined reporting is especially problematic in uncertain and poor economic climates and will result in lower revenue for the state.
- Expanding the Sales Tax on Services: We oppose any effort to expand the sales tax on services not currently listed in Maryland law.
- Evaluation of Maryland’s De-coupling Provisions: We support a thorough evaluation of Maryland’s current de-coupling law related to the federal tax structure and the advantages and disadvantages that exist.
- Remote Work: The General Assembly should address the outstanding challenges with nexus and apportionment rules relating to remote work and issue general rules instead of the current temporary guidance.
- Alternatives to Raising Taxes: We encourage the General Assembly to evaluate all other alternatives to raising taxes on businesses as a source of revenue in an ever-changing economic environment. Any attempt to increase revenues must be matched with responsible cuts in state spending and other policies that spur economic activity and create jobs to expand the state’s tax base.
All 2024 Legislative Priorities & Critical Issues
Get an in-depth look at the pressing issues and legislative priorities we've identified for the 2024 Legislative Session.
Get involved
Join our Taxation Policy Committee
Our Taxation policy committee covers all taxation issues impacting Maryland’s tax climate, focusing on efforts to make Maryland more competitive and that help attract and retain businesses, talent and capital investments. This committee meets every Friday during the Maryland General Assembly’s legislative session at 9:00 a.m. Meetings are held remotely via video conferencing.
Contact governmentaffairs@mdchamber.org for more information.
Sign up for Action Alerts
Every day in Maryland, legislation is introduced that impacts businesses like yours. Without your voice, expertise, and experience at the table, policies can be enacted that hurt your bottom line.
Take action now to influence Maryland's policy landscape. Sign up for the Maryland Chamber's legislative Action Alerts.
Legislative Tracking
Stay up to date with our members-only Bill Tracker during session. Get concise bill summaries, anticipated positions, and more. Our 2024 Bill Tracker will be available soon after the start of the 2024 Legislative Session.
Additional resources
Our resources
Additional reading
- Bloomberg: A $100 Billion Wealth Migration Tilts US Economy’s Center of Gravity South (June 2023)
- CNBC’s Best States for Business 2023
- Comptroller of Maryland — Tax forms, rates and revenue data
- Maryland Department of Legislative Services — Tax reports and fiscal analyses