Ch. 3

2007 Laws of Maryland

(G) ON OR BEFORE DECEMBER 15, 2011, THE COMMISSION SHALL
SUBMIT A FINAL REPORT OF ITS FINDINGS AND RECOMMENDATIONS TO THE
GOVERNOR AND, IN ACCORDANCE WITH § 2-1246 OF THE STATE GOVERNMENT
ARTICLE, TO THE GENERAL ASSEMBLY.

SECTION 6. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:

Article - Tax - General

10-402.

(c) (2) (vi) As part of its tax return for a taxable year beginning after
December 31. [2000 but before January 1, 2003] 2005, each manufacturing
corporation that has more than 25 employees and apportions its income under this
paragraph shall submit a report, in the form that the Comptroller requires by
regulation, that describes for each taxable year as of the last day of the taxable year
the following:

1. the difference in tax owed as a result of using THE
single sales factor apportionment method under this paragraph as compared to the tax
owed using the 3-factor double weighted sales factor apportionment method in effect
for the last taxable year beginning on or before December 31, 2000:

2. volume of sales in the State and worldwide:

3. taxable income in the State and worldwide: and

4. book value of plant, land, and equipment in the State
and worldwide.

(vii) On or before October December 1, [2003] 2008, and October
December 1 [, 2004] OF EACH YEAR THEREAFTER, and notwithstanding any
confidentiality requirements, the Comptroller shall prepare and submit to the
Governor and, subject to § 2-1246 of the State Government Article, to the General
Assembly, a comprehensive report on the use of single sales factor apportionment by
manufacturing corporations that provides, at a minimum:

1. the number of corporations filing tax returns for the
taxable year that ended during the preceding calendar year that use single sales factor
apportionment and the number of such corporations having a Maryland income tax
liability for that taxable year:

2. the number of corporations paving less in Maryland
income tax for that taxable year as a result of using single sales factor apportionment

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