Maryland could become the first state to adopt worldwide combined reporting for corporate taxes if a House of Delegates proposal survives skeptical Senate leadership in deliberations this week. The House spending package, SB 362, includes a provision mandating the reporting system for multinational companies—an apportionment method that requires calculating taxes based on global income attributable to a specific jurisdiction. Proponents favor a worldwide system to prevent corporations shifting profits to overseas subsidiaries.After the House passed the bill last week in an 89-45 vote, Senate President Bill Ferguson (D) told reporters that …
