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Maryland-based companies would get tax break under bill sent to Hogan

Maryland-based companies would get tax break under bill sent to Hogan

Maryland-based companies would get a break on their taxes — while out-of-state firms could pay more — if Gov. Larry Hogan signs legislation passed by the General Assembly this week.

The bill, which was approved in the final hours of the annual 90-day session, would put Maryland on what is knows as a “single sales factor” system for calculating taxation.

The existing law takes into account three factors in calculating the state's 8.5 percent corporate income tax — how much a company sells in Maryland, how many people it employs, and how much property it owns.

Steve Banks, chairman of the Single Sales Factor Coalition that lobbied for the bill, argues that makes no...

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