Sunday, January 22, 2012

LET ME HEAR FROM YOU!

The Maryland General Assembly will be discussing the following potential sources of new income form Maryland, and I need YOUR opinions on each of them.

Would you be supportive of a new

· Gas Tax

· Gambling Slots

· Bag Tax

· Sales Tax increase

· $100K+ income tax increase (recently proposed by Governor O’Malley)-- the numbers provided below are extremely rough estimates.

Here's additional information for you to consider on each of the above as provided by Senator Victor Ramirez.

· Gas Tax -- A 15 cent gas tax is proposed over a 3 year period expected to generate $471 million in revenues for the State.

Gambling Slots/Tables -- Slots only are expected to generate $360 million

Slots and table games are expected to generate an estimated $650 million

5-cent Bag Tax -- This is a fee to be charged and collected per disposable carryout bag provided to a customer. This is a fee not subject to sales or use tax. Stores may retain 1 cent of every nickel fee collected. If they opt to participate in a credit program then they may retain 2 cents for every nickel. This bill may prove to have a substantial positive financial impact on small businesses. The bill is expected to generate $5 million for the state after small business deductions. The revenue estimate is based on estimated participation rates.

· Online Sellers Sales Tax – expected to generate $21 million

· Income tax increase and caps on personal exemptions for singles making over $100k and couples making over $150k -- expected to generate $280 million

SEND your response to mayormiles@gmail.com. NEEDED ASAP!

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