The new budget deal announced yesterday replaces the proposed 2.5 percent tax on a broad range of services with a 3 percent tax on information technology and data services, among other taxes and revenue-raising proposals. Governor Moore and Senate President Bill Ferguson cited software-as-a-service (SaaS) businesses as well as large tech firms as targets for the bill. The budget needs to be approved by the General Assembly before it can be signed into law.
The consequences: We continue to emphasize that a thriving business community is not just one path forward — it is the only sustainable solution to Maryland’s long-term fiscal challenges. Businesses drive job creation and economic growth. Your involvement is still needed to ensure Maryland’s economic competitiveness does not suffer. Get involved now
