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Hearing today on corporate tax change

Corporations doing business in Maryland could pay less in corporate tax filing fees but more in overall taxes under a bill proposed by a Prince George’s County senator.

Senate Bill 395, sponsored by Sen. Paul G. Pinsky, a Democrat, would require affiliated companies doing business in Maryland to pay taxes using a combined reporting method.

The bill is scheduled for a hearing Wednesday in the Senate Budget and Taxation Committee.

The bill cuts the corporate filing fee in half, from $300 to $150, resulting in a $25 million loss over the next fiscal year.

Changes in how corporate taxes are calculated proposed in the bill kick in a year later and are expected to increase the state’s general fund revenue by about $60 million between fiscal 2016 and 2019.

Revenue earmarked for transportation would increase by $62.5 million over the next five years.

West Virginia. the District of Columbia and 22 other states have some form of combined corporate reporting.

Similar bills have been introduced every year since 2010.

This story will be updated.