Source: U.S. Census Bureau
Release: Business Formation Statistics
High-Propensity Business Applications (HBA) that indicate a first wages-paid date on the IRS Form SS-4. The indication of a wages-paid date is associated with a high likelihood of transitioning into a business with payroll.
See the U.S. Census's FAQs for more details.
U.S. Census Bureau, Business Applications with Planned Wages: Total for All NAICS in Maryland [BAWBATOTALSAMD], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BAWBATOTALSAMD, August 4, 2021.