Details emerge on tax, business legislation
We've already looked at how CPAs fared during the 2010 General Assembly session.
Now it's time to talk taxes.
The folks at the Maryland Comptroller's Office have released their annual summary of tax legislation enacted by the General Assembly. That list includes an extension of the termination date for the state R&D Tax Credit, a tax credit to encourage hiring among Maryland employers, tax credits related to employees with disabilities, a couple of bills to encourage sustainability and the use of clean energy, some sales-and-use-tax exemptions and more.
Check out the complete summary here.
And once you're done with that, check out the Maryland Chamber of Commerce's summary of business-related legislation to wind its way through the General Assembly this year. The article offers details of business-related legislative victories in the areas of taxation, unemployment insurance, the proposed expansion of employers' obligations under the federal Family and Medical Leave Act, health care, state budgetary matters and more.
As bad as the state's finances have been lately, legislators resisted the urge to raise revenues through additional taxation in 2010. We probably won't be as lucky in 2011, and we'll need you to be more diligent than ever on the legislative front. It's never too early to start thinking about CPA Day in Annapolis, so save the date and keep your eyes peeled for details.
Learn more at the Maryland CPA Summit
We'll address many of these issues directly at the 2010 Maryland CPA Summit (formerly the Maryland Business and Accounting Expo). Slated for June 28-29 at the BWI Hilton, the Summit will include sessions on health care, IFRS, state and federal taxation, human capital, social media, leadership and more. Get complete details and register here.