Tax Court Modifies Rushmore Method for Hotel Valuation. The Maryland Tax Court recently modified the traditional Rushmore income approach used to determine the fair market value (FMV).
Stephanie Do of the Council On State Taxation discusses key state tax policy topics that are likely to see action in 2024, including the expiration of Tax Cuts and Jobs Act provisions.
The Supreme Court of Maryland's remand of this case to the Circuit Court for Anne Arundel County with directions to dismiss will require companies whose services meet the broad definition of “digital advertising services” to take steps to determine whether they will be subject to the tax’s various filing requirements.
Last fall, when a Maryland County Circuit Court held that the Maryland Digital Ad Tax violated the dormant commerce clause, the supremacy clause, the Internet Tax Freedom Act, and the.