Thank you for sharing!

Your article was successfully shared with the contacts you provided.
axe buried upright in a tree stump (Photo: Shutterstock)

A  bill that would have levied a new tax on financial advisory services was unanimously pulled by a subcommittee of the Maryland House of Delegates. The HR 1628 Sales Tax and Services proposal would have lowered the state’s sales tax from 6 percent to 5 percent, but expanded the tax to include the consumption of services like financial and legal advice, and the hiring of a real estate agent.

The bill was introduced by Maryland’s House leader, a Democrat, and was strongly opposed by the state’s Republican Governor, Larry Hogan.

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

More from this author



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.