Corporate tax commission delays reporting

Posted by Stan Moore on November 25, 2008

A commission assembled to study potential changes to Maryland’s corporate tax policy has elected to postpone its first report until after next year’s session of the General Assembly.

The Maryland Business Tax Reform Commission, which had its first meeting last week, decided that it would not meet again until after April. The group was created by a 2007 law largely to study the practice of “combined reporting,” which would change the way corporations pay income tax to reflect their revenue in the state rather than the location of their headquarters.

Raymond S. Wacks, the chairman of the commission who also serves as the budget director for Howard County, said at the meeting that the commission would not be able to review new tax information before Dec. 15, the date set in law for the first of several reports to the General Assembly.