2002 Regular Session

HOUSE BILL 278

File Code: Taxes - Income
Sponsored By:
Delegate Edwards
Entitled:
Income Tax - Nonresident Shareholders, Partners, and Limited Liability Company Members

Synopsis:

Requiring the Comptroller to allow an S corporation, partnership, or limited liability company that files a composite return on behalf of nonresident shareholders, partners, or members to reduce its tax payment by the amount of any tax credits that the nonresident shareholders, partners, or members are entitled to claim based on the activities of the S corporation, partnership, or limited liability company; and applying the Act to tax years after 2001.

History by Legislative Date

House Action
1/23
First Reading Ways and Means
Hearing 1/30 at 11:00 a.m.
Senate Action
No Action
Bill indexed under the following Subjects:
COMPTROLLER
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
INCOME TAX
LIMITED LIABILITY COMPANIES
NONRESIDENTS -see also- ALIENS
PARTNERSHIPS
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statute:
Tax - General
( 10-102.1 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered