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Comptroller: Federal Tax Law Changes, Decoupling and SALT Shift State Revenue Timing and Forecasts
Summary
Maryland Comptroller Brooke Lierman and revenue analysts told the Ways and Means Committee that the office temporarily decoupled from certain federal changes for tax year 2025, blunting an estimated near-term revenue hit while longer-term effects on corporate income tax remain uncertain.
Maryland Comptroller Brooke Lierman and the Bureau of Revenue Estimates briefed the Ways and Means Committee on the fiscal effects of recent federal tax legislation, the office's statutory duties under Tax-General §10-108 and implications for the state budget.
“we determined the state temporarily decouples for tax year '25 and any earlier tax year,” Robert Rearman, director of the Bureau of Revenue Estimates, told delegates, describing the office's assessment of the federal bill’s business-income provisions. Rearman said that, under the law the comptroller uses to assess Internal Revenue Code amendments, the temporary decoupling “blunted the impact” of the federal changes on state revenues.
Rear-man told the committee that, absent the temporary decoupling, staff would…
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