Maryland business taxes to increase
On the heels of a report that the business tax climate in Maryland is among the worst in the nation, it is now being reported that business taxes could be going up soon.
The state said yesterday that it expects its annual Sept. 30 calculation of the fund balance will show that the largest allowable increase is needed to replenish the fund, which paid out more in the first seven months of the year than it did in all of 2008 as unemployment soared.
The increase will range for employers depending on their history of claims against the fund, from an additional $136 per worker for companies that haven’t laid off in recent years to an extra $382 per worker for employers with many layoffs.
That’s a nearly fourfold increase for businesses at the bottom of the tax-rate scale, a group that includes just over half of Maryland employers.
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Just received our notice of 3.5 times increase for unemployment insurance in 2010. One job loss in 18 years!!! Small business is NOT the problem but once again the burden has been placed squarely on our backs.
Comment by Rick — October 29, 2009 @ 4:19 pm