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5) Corporations and Business Entities - Filing Fees & Combined Reporting

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As introduced last session, this legislation sought to impose a system of mandatory unitary combined reporting for corporate income taxes on those retail sales and food service corporations. In addition to creating a competitive disadvantage with surrounding states that do not use combined reporting, this legislation increases tax revenue volatility, unduly creates reporting complexities to small businesses, and risks alienating the very industries Maryland is attempting to attract.