The Maryland Association of CPAs scored some wins for its members in the Maryland State House this session after lobbying lawmakers earlier this year.
In a new YouTube video, MACPA members celebrated wins on a pair of key bills, including an expanded definition of “attest” to include Service Organization Control reporting and procedures performed in accordance with the American Institute of CPAs’ Statements on Standards for Attestation Engagements, which passed unanimously in the House and Senate.
The other bill, according to MACPA CEO Tom Hood, was on appeal bond caps, where a provision for large companies passed the House with 11 minutes left in the session, although a separate provision for small businesses did not get approved.
MACPA also held off attempts to begin charging sales taxes on services and legislation providing for comparative fault in contributory negligence lawsuits, along with other bills that would prohibit non-compete clauses and non-disclosure agreements, and require certain corporations to compute Maryland taxable income using a specified combined reporting method.
To watch the video, click here or in the screen below.
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