News and Events

Hagerstown-Washington County News

ARTICLE

Date ArticleType
2/14/2013 General
Chamber Supports Legislation to Decrease the State’s Corporate Tax

Hagerstown, MD –– The Hagerstown-Washington County Chamber of Commerce supports Senate Bill 34, currently under consideration by the Maryland General Assembly, which would lower the corporate income tax rate in Maryland from 8.25% to 6%.  The Chamber supports the legislation for the following reasons:

 

  • Washington County is in close proximity to the neighboring States of West Virginia, Pennsylvania and Virginia making it very easy for Maryland located businesses to move out of Maryland.  Our current high (higher than surrounding States) Corporate Income Tax Rate is one reason given for Maryland business leaving; that rate is also a disincentive for businesses looking to relocate into Maryland.

 

  • Further, increases in property tax, sales tax and individual income tax revenues directly related to businesses locating or expanding in Maryland easily off sets any lost tax revenue from a lower corporate income tax rate.

 

  • Finally, a lower corporate income tax rate will help to make Maryland a “business friendly” location for both new and current businesses.

 

 

About the Hagerstown-Washington County Chamber of Commerce

Since 1919, the Chamber has been the preferred advocate and recognized voice of business in the greater Hagerstown-Washington County area. We connect our member businesses to each other and to the community, organizing events and providing tools that they use to grow their business. We strive to be a go-to resource for the business community for questions, concerns, education and advice. For more information, visit www.hagerstown.org.

Hagerstown-Washinton County Chamber of Commerce, Hagerstown, MD 21740
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