Combined reporting requires that companies combine profits from all related subsidiaries, including captive REITs and trademark holding companies, before determining what portion of their profits are taxable in that state.

With a looming large hole in the Maryland Budget, will businesses take the brunt of the blow with Combined Reporting Legislation and new business taxes? Ron Wineholt of Maryland Chamber of Commerce and Carly Mercer of Maryland PIRG join Jeff Salkin in this week's State Circle.