A Divided Supreme Court Rejects Maryland’s Tax On Out-Of-State Income

In a 5-4 decision, the U.S. Supreme Court ruled today that a Maryland law is unconstitutional because it allows residents only a partial tax credit for out-of-state income that is taxed in other states.  The decision not only invalidates the Maryland law but may also limit similar taxes in New York, Pennsylvania, Indiana, and Ohio. And the closely-watched ruling will discourage other states from trying to tax such interstate income.

from Forbes – Business http://ift.tt/1ebST31
via Abogado Aly Business Consulting

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