Archive: Maryland

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Maryland Expands Pass-through Entity Tax to Circumvent Federal SALT Limitation

Maryland has become the most recent state to adopt a workaround to the federal $10,000 state and local tax (SALT) deduction limitation. On May 7, 2020, Senate Bill 523 became law, making Maryland one of a handful of other states, including Connecticut, New Jersey, and Wisconsin, attempting to circumvent the SALT limitation implemented by the […]
May 26, 2020

Grant and Loan Programs for Small Businesses and Nonprofits You Might Not Be Tracking

By now you are aware of the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP), small business programs set forth by the Small Business Administration (SBA). These programs have a set pool of funding available, which, due to high demand, Congress is looking to expand further in new stimulus bills. There is no […]
April 15, 2020

State Legislatures Tackling TCJA Conformity or Nonconformity

States have had a year to consider the impact of the Tax Cuts and Job Act of 2018 (TCJA), and now many state legislatures are making decisions regarding which provisions they want to follow. This is certainly the case in our region. Both Maryland and Virginia have proposed legislation addressing conformity with federal tax reform, […]
February 4, 2019

Montgomery County Maryland Earned Sick & Safe Leave Law

The County’s new Earned Sick and Safe Law goes into effect on October 1, 2016. The law requires most employers in the County to provide earned sick and safe leave to employees for work performed in Montgomery County. The intent of the law is to provide employees with paid leave or time off to take care of […]
September 30, 2016

Maryland Offers Physician Tax Credit

Maryland is launching a new program aimed at bringing physicians to underserved areas of the state. As of June 1, 2016, Maryland physicians can earn a credit reducing state income tax from $1,000 up to $10,000 by serving as a preceptor to medical students in areas with health care workforce shortages. According to the American Association […]
July 11, 2016

Spotlight: Maryland Funds Profile

Funds Profile: The Maryland Technology Development Corporation (TEDCO)/Maryland Venture Fund Are Key Resources for MD Startups TEDCO is Maryland’s leading source for entrepreneurial business assistance, pre-seed, seed and venture funding for the development of startup companies in Maryland’s innovation economy. In October 2015, TEDCO completed its consolidation with Maryland Venture Fund (MVF), a fund that […]
January 20, 2016
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  • Raj Khanna

Can You “Wynne” More Interest?

Maryland taxpayers that have received refunds or filed refund claims because of the decision in Comptroller v. Wynne can preserve their right to receive the full 13% interest taxpayers are typically paid on refunds. Last year, Maryland enacted legislation stating taxpayers receiving Wynne-related refund claims would only be paid the prime interest rate rounded to […]
December 2, 2015

Maryland Comptroller Speaks Out on Tax Amnesty and Wynne

On August 4, 2015, the Maryland Comptroller’s office hosted an informal gathering for tax practitioners to ask questions of the Comptroller’s staff regarding the upcoming Maryland tax amnesty program, as well as the processing of refund claims related to the Wynne decision. The tax amnesty program, which will take place from September 1, 2015 to […]
August 7, 2015

Big “Wynne” for Maryland Taxpayers: U.S. Supreme Court Rules in Favor of Taxpayer

Breaking News: The U.S. Supreme Court has ruled in favor of the taxpayer in Comptroller v. Wynne, an important case for Maryland residents paying taxes to other states.  The Court issued its 5-4 decision on May 18, 2015, holding that the state’s failure to allow resident individuals a credit for the county income tax against […]
May 18, 2015

Calling All Maryland Amazon Shoppers

If you plan on making a purchase from Amazon.com in the near future and you are located in Maryland, you might want to consider executing that transaction today if you were hoping to avoid sales tax.  Starting tomorrow, October 1, 2014, Amazon.com will begin collecting the state’s 6% sales tax on purchases made on its […]
September 30, 2014