United States: Could Maryland Become The Next State To Adopt Single Sales Factor? Maryland Senate Passes Apportionment Bill And House Holds Public Hearing
Maryland may be catching on to the single sales factor trend. A
recently proposed bill, S.B. 1090, passed by a wide margin in the
Maryland Senate on March 19, 2018, and was the subject of a public
hearing before the Maryland House Ways & Means Committee on
March 28, 2018. If enacted, S.B. 1090 would change the state's
standard corporate income tax apportionment formula from the
current three-factor formula with double-weighted sales to a single
sales factor formula for tax years beginning after December 31,
2017. The Bill also would provide an election to opt out of single
sales factor apportionment for qualifying taxpayers.
Under current Maryland law, corporate taxpayers are required to
apportion income to the state using a three-factor formula with
double-weighted sales. Maryland has flirted with adopting single
sales factor apportionment for several years. (It has already moved
to market-based sourcing for sales other
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A receiver is generally responsible
for paying federal income taxes incurred during the pendency of the
receivership, but this will also depend on the type of
receivership.