Tax Legislation

Howard County officials are proposing to lower a special tax that some athletic facilities say is threatening to drive them out of business -- or into another county.The County Council will hold a public hearing Monday on legislation that would lower the admission and amusement tax rate for indoor athletic facilities for tennis, baseball, basketball, soccer and volleyball from 7.5 percent of gross receipts to 5 percent."We need the amusement tax," said County Executive Charles I. Ecker, referring to the $1.1 million it generates.

An article in Thursday's Howard County edition of The Sun inaccurately described Sen. Martin G. Madden as the only Republican co-sponsor of cigarette-tax legislation in the state Senate this year. Montgomery County Republican Sen. Jean W. Roesser was also a co-sponsor.The Sun regrets the error.Pub Date: 7/19/98

Highlights in Annapolis today:Senate convenes at 10 a.m., Senate chamber. Final vote expected on a bill to allow milk price supports in Maryland.House of Delegates meets at 10 a.m., House chamber. Final vote expected on income tax cut legislation.Pub Date: 4/10/98

The Senate voted Monday to allow states to assess a sales tax on purchases from Amazon.com, eBay and other online retailers in a bipartisan measure that would also reduce the increase planned for Maryland's gas tax. The bill, which passed 69-27, would resolve a long-standing complaint of brick-and-mortar business owners, who say they struggle to compete with online companies that don't charge sales tax. The legislation requires Internet sellers to...

A seminar focusing on current income and tax topics and specificallyintended for owners and investors in real estate and small businesses will be given beginning at 4 p.m. Jan. 21 at the Annapolis Ramada Inn. A reception will follow at 5:30.The Annapolis office of C.W. Amos & Co. and Blumenthal & Wayson, P.A. will jointly host the seminar. Topics include a review of the tax reform legislation, "Omnibus Budget Reconciliation Act of 1990," the new regulations on tax-free like-kind exchanges and techniques used in trust and estate tax planning.

House Speaker Casper R. Taylor Jr. said last night that he will introduce a bill to raise Maryland's cigarette tax by 34 cents a pack, with half of the money dedicated to public schools. But Taylor said the $50 million for education would not be intended to serve as a down payment on recommendations from the Thornton Commission, which has called for state support to public schools to increase by $1.1 billion annually over the next five years. "It would bridge the gap for one year until we can get to the Thornton-formula funding next year," Taylor said of the bill, which he hopes to introduce early next week.

WHAT! Another big tax bill taking shape on Capitol Hill? How could they? Why should they? How dare they?Dare they will -- in 1992. Election-year politics are likely to churn up federal tax-cut proposals of every ilk next year, from schemes to cut capital gains taxes and unfairly put more money in the pockets of rich investors to those that would benefit the less well off but bore a gaping new hole into federal revenues.If we are going to go through this again -- and it seems likely -- at least it should be done right.

They're from different political parties, but Gov. William Donald Schaefer and President Bush now have at least one thing in common: Both broke pledges not to seek new taxes.Where Bush said, "Read my lips, no new taxes," Schaefer put it more simply: "I'm not going to seek new taxes."Schaefer's no-new-taxes comments, now contradicted by his administration's efforts to levy a sales tax on gasoline and to raise about $800 million in other revenues, were made to reporters during an informal "brown bag" breakfast meeting in Annapolis on Dec. 21.Asked at the meeting if he planned to go to taxpayers for more money, Schaefer said without hesitation: "I am not advocating any taxes."

Most of us look to our local radio stations as reliable sources for news and music. We tune into them at home, at work, in the car, and pretty much anywhere we go with a radio or device that allows us to stream our favorite stations. As a business owner, I also view local radio stations as an important resource for growth since they offer affordable advertising that helps me reach potential customers. Even though local radio stations are important resources to the communities they serve, the recording industry is pushing for a new tax that would drive some of them out of business and ultimately force others to cut staff and budgets for community-oriented activities such as charity events and disaster relief.

Here are some financial strategies for all ages:STARTING OUT: "Although many believe investing is difficult to understand, it is not all that complicated," says Kids' Wall Street News, July.Pointing out that "a little saved over long time periods grows to sizable amounts," the article gives this arithmetic:Beginning at age 18, if you save and invest $50 each month (only $1.65 a day), at an average return of 12 percent a year, your $600-a-year investment will grow to $11,600 in 10 years, to $49,900 in 20 years, to $176,400 in 30 years, to $594,121 in 40 years and to $1,972,400 in 50 years.