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Podcast: Business of Tech: Daily 10-Minute IT Services Insights
Episode: Maryland's New IT Tax, Microsoft's Copilot Revolution, and Cynomi's Cybersecurity Growth Surge
Description: Maryland has introduced a new 3% sales tax on data and information technology services, set to take effect on July 1, 2025. This legislation expands the definition of taxable services to include essential IT offerings such as cloud storage, IT consulting, and cybersecurity. Experts warn that this tax could lead to increased costs for businesses, potentially discouraging innovation and prompting some to relocate to states with lower tax burdens. The implications of this tax extend beyond Maryland, signaling a potential trend where states may increasingly treat digital infrastructure as a taxable utility.The introduction of this tax is seen as...