The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
Annapolis MD 21401
Dear Mr. President:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed Senate Bill 701 - Income Tax - Single Sales Factor Apportionment for Manufacturing Corporations.
This bill changes the formula used to apportion income to the State, for purposes of the corporate income tax, for manufacturing corporations that carry on a trade or business in and out of the State from a three-factor apportionment formula to a single sales factor apportionment.
House Bill 11, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate Bill 701.
Parris N. Glendening