Maryland slashed revenue expectations Wednesday from its IT and data services sales tax enacted last year after two quarters of collections data came up significantly short of projections.
The Maryland Board of Revenue Estimates voted to lower expectations for fiscal year 2026 to about $110 million from $500 million. The board also lowered fiscal 2027 estimates to about $220 million from $609 million.
During the planning years beyond that, the state is expecting to bring in about half of what it projected.
The state is making adjustments after it collected about $35 million from the 3% levy after two quarters ...