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Supreme Court strikes down Maryland law that double-taxes income
Posted on 5/18/15 at 4:00 pm
Posted on 5/18/15 at 4:00 pm
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quote:
WASHINGTON (AP) — The Supreme Court on Monday struck down as unconstitutional a Maryland tax that has the effect of double-taxing income residents earn in other states.
Maryland officials say the 5-4 ruling means the loss of hundreds of millions of dollars in tax revenues. It also could affect similar tax laws in nearly 5,000 local jurisdictions in other states, including New York, Indiana, Pennsylvania and Ohio.
The justices agreed with a lower court that the tax is invalid because it discourages Maryland residents from earning money outside the state.
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