Closing Corporate Tax Loopholes

The General Assembly has repeatedly attempted to close the combined reporting loophole but has been stymied by the old guard in the Senate and the Chamber of Commerce which favor business interests over the interests of the people.  Maria Allwine will lead on ensuring that the one-third of the largest corporations reaping the profits of doing business in Maryland while currently paying no income taxes will finally be forced to pay their fair share.  It is real men, women and children who shoulder the burden in slashed services and increased taxes.  It is real people who are struggling in the worst economy of our lives, an economy destroyed by these large corporations, and it is past time for elected officials to ensure that corporations pay the taxes they owe.  Contrary to what elected officials would have us believe, the Chamber of Commerce’s own national report states that in terms of corporate taxation, Maryland is the #1 friendliest state for corporations!   Closing the corporate tax loopholes, as many other states have already done, is long overdue.