Lowering state corporate tax rate important first step towards reforming Maryland's tax code
FOR IMMEDIATE RELEASE: April 30, 2013
CONTACT: Nick Loffer, (410) 603-1836 or Nick@AFPMaryland.com.
Free Market Group Hopes Key Senate Democrat’s Prediction Comes True
Lowering state corporate tax rate important first step towards reforming Maryland’s tax code.
ANNAPOLIS, Md. — The Chairman of the Senate Budget and Taxation Committee Ed Kasemeyer predicted that the State Legislature would lower Maryland’s corporate tax rate during the 2014 General Assembly. Sen. Kasemeyer has supported decreasing the corporate tax rate in the past. At 8.5 percent, Maryland’s corporate tax rate is just not competitive. It is one of the many economic factors that are sending businesses and families to low-tax states like Virginia and Texas.
“Lowering Maryland’s corporate tax rate is an important first step in making Maryland more business friendly, but it cannot be the only step taken,’ said Americans for Prosperity-Maryland Interim State Director Nick Loffer. “We hope this isn’t the start of empty pre-election year rhetoric but a genuine move towards comprehensive tax reform that puts money back in the pockets of working-class families and businesses in Maryland.”
According to the non-partisan Tax Foundation, Maryland is the 9th least business friendly state in the Nation. Americans for Prosperity-Maryland supports lowering the state corporate tax, but believes other steps must also be taken to make Maryland economically viable for all businesses and families.
For further questions or to schedule an interview contact interim State Director Nick Loffer at 410-603-1836 or at Nick@AFPMaryland.com.
Americans for Prosperity (AFP) is a nationwide organization of citizen-leaders committed to advancing every individual’s right to economic freedom and opportunity. AFP believes reducing the size and intrusiveness of government is the best way to promote individual productivity and prosperity for all Americans. For more information, visit www.americansforprosperity.org
Hat tip to www.MarylandReporter.com