By: Nicholas Sohr

Two proposals that consistently rankle business interests big and small in Annapolis resurfaced Wednesday for their annual appearance in the State House.

They are, of course, the millionaire’s tax and combined reporting. (S.B. 249 and S.B. 269, respectively, if you’re keeping score at home.)

Both are viewed by liberal lawmakers as untapped revenue streams that could be used to ease the state’s persistent fiscal woes.

The millionaire’s tax would raise the individual income tax to 6.25 percent for people who make more than $1 million a year. Business leaders argue that the tax rate – it was passed in 2008 and expired in 2010 – make the state unfriendly to top earners and is unfair to small businesses that file tax returns as individuals.

Combined reporting is a way of assessing corporate taxes based on an apportioned share of company’s revenue nationwide. The goal is to stop companies from stashing revenue in states with lower tax burdens.

Both bills have made frequent appearances in Annapolis in recent years and have failed to gain traction as business groups have fought to keep them from emerging from tax committees in both chambers.

There does not appear to be any more interest in the proposals this year, but with a $1.1 billion budget gap looming and a host of already unpopular balancing measures pushed by Gov. Martin O’Malley, the bills are worth keeping an eye on.