posts on Legislative / Regulatory

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SCOTUS gay marriage ruling: What it means for CPAs and their clients

Unless you’ve been living under a rock, you know by now that the Supreme Court has ruled it’s unconstitutional for states to ban same-sex marriage. In effect, the ruling legalizes gay marriage in all 50 states. What you might not know is that the ruling has lots of implications for CPAs. A slew of services — from tax preparation to health care to financial planning to employee benefits — are being re-examined in the wake of the ruling. Thankfully, it didn’t take long...
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MACPA Members Identify Top Challenges at Annual Meeting / Town Hall

MACPA members identified their top issues at last week's final town hall. over three hundred CPAs with an average of 20.7 years of experience came to hear the latest updates about the CPA Profession and MACPA and welcome the Association's newly-elected leadership. Thanks to our major sponsors, Sage, Wolters Kluwer, Avalara, CPA.COM, Citrix Sharefile, BB&T, AON, and Microsoft whose support makes these meetings possible. Slides 4 thru 8 in the slideshare deck below cover the polls from the...
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Maryland comptroller answers FAQs about ‘Wynne’ income tax ruling

Posted By: Bill Sheridan on June 01, 2015 in Legislative / Regulatory&Taxation
Questions have been flying throughout the profession ever since the Supreme Court struck down Maryland’s income tax law with it’s “Wynne” ruling. Now, the state’s Comptroller’s Office is providing a few answers. Comptroller Peter Franchot’s staff has released a series of questions and answers surrounding some of the key issues related to the Supreme Court’s decision. Among them: * Who is affected by the decision? * How can refunds be...
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Wynne verdict is in: Supreme Court strikes down Maryland tax law

Posted By: Bill Sheridan on May 18, 2015 in Legislative / Regulatory&Taxation
The U.S. Supreme Court has spoken: Double-taxing the income that Maryland residents earn in other states is unconstitutional. In a 5-4 ruling, the Supreme Court has struck down Maryland’s income tax law because it does not provide state residents with a full credit for tax paid on income that they earned in other states. The Washington Post’s Bill Turque called it “a ruling likely to cost Maryland counties and localities across the country millions of dollars in...
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Maryland's 2015 legislative victories underscore the value of associations

For anyone asking if associations are still relevant, the Maryland Association of CPAs has an emphatic, one-word answer: Yes. The MACPA and its members drove that point home during the 2015 session of Maryland’s General Assembly. With considerable support from the MACPA, the state’s lawmakers passed a pair of bills that were high on CPAs’ legislative agenda, each of which provides some important protections for CPAs who do work in Maryland. * The first (House Bill 878 / Senate...

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