From tax changes affecting service providers to possible internet gambling legalization, new laws and potential laws in Maryland could reshape finances over the next five years.
Understanding their potential impact offers valuable insights into Maryland’s evolving priorities – and how they might shape economic realities in the years ahead.
So, let’s find out more about some pieces of legislation and how they could impact finances by the year 2030.
Table of Contents
Maryland’s Renewed Push for Internet Gambling Legislation
The gambling laws in Maryland are complex.
They allow land-based casino games, sports betting, and horse races. But online casinos are currently illegal. However, individuals can play Daily Fantasy Sports and bet on real sports events.
If interested, here are the best Maryland gambling sites according to Jessica Whitehouse.
In 2025, Maryland lawmakers are reigniting efforts to legalize internet gambling through House Bill 1319. The proposal seeks to create a regulated framework where casinos, licensed sports betting venues, and other businesses could obtain online gaming licenses.
This system would allocate the first round of licenses to social equity applicants – businesses with at least 33% minority ownership.
By prioritizing diversity, the legislation aims to broaden opportunities within Maryland’s lucrative gaming industry while addressing historical inequities in business ownership.
The financial implications are substantial. Licensed operators would retain significant revenue shares – 80% from live dealer games and 45% from other internet gaming formats.
The remaining funds would bolster state programs via contributions to the State Lottery Fund. This creates a dual benefit: private sector growth alongside funding for public initiatives.
Despite previous failed attempts like Senate Bill 603 in 2024, which faced criticism over gambling addiction concerns, HB 1319 introduces safeguards by tightly regulating operations through the State Lottery and Gaming Control Commission.
This renewed effort reflects an opportunity for economic development paired with more inclusive participation across industries statewide – a balancing act worth considering carefully as lawmakers deliberate its future.
The Financial Ripple of Maryland’s Proposed Tax Legislation
Maryland’s proposed tax legislation, HB 1554 and SB 1045, could reshape how businesses handle finances. If enacted, starting July 1, 2025, companies selling certain services to other businesses would need to collect sales tax on those transactions.
This change extends beyond simple compliance. Businesses using accounting, consulting, or office support services may face higher costs due to the new taxable classifications. Service providers will likely pass these added expenses down the line.
It’s like when rising material costs push up retail prices – businesses must adjust somewhere. Consumers could eventually see price hikes as companies recoup increased operating costs from taxed intercompany or third-party services.
For operations spanning related entities within Maryland, this law broadens its impact further by taxing intercompany support.
Larger organizations relying heavily on internal service networks may encounter unexpected budget constraints due to compounded taxation effects across branches.
By rethinking “taxable price” definitions for business-to-business services now, Maryland might nudge broader economic changes through industry pricing structures by the decade’s end – a development worth watching closely!
Maryland’s New Security Guard Licensing Requirements
As of January 2025, Maryland’s SB 729 enforces stricter oversight for security guards at healthcare facilities. Employers must now report detailed information to the Secretary of State Police every seven days.
This new reporting rule adds administrative costs for businesses managing security personnel. Hiring additional staff or upgrading software to ensure timely compliance could increase operational expenses.
The law’s transparency goals also influence liability concerns. Use-of-force incidents must be documented carefully, excluding any legally protected details. While this enhances accountability, it might expose employers to potential legal scrutiny if reports are incomplete or inaccurate.
Think of it as tracking employee work hours but with higher stakes – each misstep invites complications, whether financial or reputational.
Healthcare facilities relying on contracted security services may experience price hikes as agencies adjust rates to offset these added demands.
Over time, Maryland businesses and consumers alike could feel ripple effects in both direct costs and service accessibility within the private security sector by the decade’s end.
Having said all of that, the intent behind SB 729 is clear – it prioritizes accountability and public trust in security operations. By requiring detailed reporting, Maryland aims to reduce misuse of authority, improve safety standards at healthcare facilities, and ensure compliance with state and federal privacy laws.
This emphasis on transparency protects both patients and employees while setting a higher standard for the private security profession statewide.
Wrapping Up
Maryland’s evolving laws could reshape finances and industries by 2030, balancing accountability, equity, and revenue. These changes promise opportunities yet also pose challenges – underscoring the importance of thoughtful adaptation statewide.
