Monday, May 14, 2012
Income Tax Hike Worries Some Business Groups
While the governor has touted Maryland’s comparatively low tax burden on its high-income populace, some groups are concerned that the income tax hikes proposed for this week’s special session will harm Maryland’s national rankings on taxes and business climate.
Gov. Martin O’Malley on Wednesday cited various national rankings for Maryland’s income, sales and corporate taxes to show they were not as high as some opponents portray. But Larry Hogan, chairman of the pro-business Change Maryland, said the legislature’s own fiscal analysts say the state already has the second-highest income tax burden in the nation.
In its 2012 Issue Papers (page 27), the Department of Legislative Services says Maryland ranks No. 2 in the nation on its reliance on the personal income tax, according to 2009 Census data.
at 5/14/2012 01:00:00 PM