Thursday, March 06, 2014

Important tax news for Maryland artists

As a social liberal and a fiscal conservative who tries not to be seduced by either left wing nuts or the vast right wing conspiracy, it is ironic to me how in the one-party, tax-crazy Soviet Socialist Republic of Maryland, the Maryland Arts & Entertainment Districts (A&E), offers tax-related incentives that "attract and support artists, arts organizations and other creative enterprises within 22 creative places in 15 counties across the state."

So they "offer tax-related incentives" - that's Orwellian speak for tax cuts/breaks, but you can't say that, because that means something Republicanish, cough, cough. Don't get me wrong - this is a great idea and it generally works...

At a March 13 Senate Hearing, A&E District advocates will testify in support of HB-1516 (Economic Development – Arts and Entertainment Districts – Qualifying Residing Artists), a bill that would exempt qualifying artists from paying taxes on proceeds from the sale of artwork not only within the A&E District in which the artist resides and created the work, but within any of Maryland’s 22 Designated A&E Districts.

By expanding on the established definition of a “Qualified Residing Artist,” it is expected that the passage of the bill would stimulate investment, encourage revitalization of underutilized properties, increase economic impact and promote local tourism.