2005 Regular Session

SENATE BILL 99

File Code: Taxes - Miscellaneous Crossfiled with: HOUSE BILL 321
Sponsored By:
Senators Greenip, Astle, Brinkley, Colburn, Dyson, Garagiola, Hafer, Haines, Harris, Hooper, Jacobs, Mooney, Pipkin, Schrader, and Stone
Entitled:
Maryland Estate Tax - Unified Credit Effective Exemption Amount and Deduction for State Death Taxes

Synopsis:

Repealing a provision limiting the unified credit used to determine the Maryland estate tax to the amount corresponding to a $1 million exclusion amount under the federal estate tax; repealing a requirement that the tax be determined without regard to the deduction for State death taxes under the federal estate tax; repealing a requirement that a person responsible for paying the inheritance tax file an estate tax return and pay the estate tax under specified circumstances; and applying the Act to decedents dying after December 31, 2004.

History by Legislative Date

Senate Action
1/19
First Reading Budget and Taxation
1/20
Hearing 2/2 at 1:30 p.m.
House Action
No Action

Sponsored by:

Senator Janet Greenip, District 33
Senator John C. Astle, District 30
Senator David R. Brinkley, District 4
Senator Richard F. Colburn, District 37
Senator Roy P. Dyson, District 29
Senator Rob Garagiola, District 15
Senator John J. Hafer, District 1
Senator Larry E. Haines, District 5
Senator Andrew P. Harris, District 7
Senator J. Robert Hooper, District 35
Senator Nancy Jacobs, District 34
Senator Alexander X. Mooney, District 3
Senator E. J. Pipkin, District 36
Senator Sandra B. Schrader, District 13
Senator Norman R. Stone, Jr., District 6

Bill indexed under the following Subjects:

DEATH -see also- ADVANCE MEDICAL DIRECTIVES; WRONGFUL DEATH.
ESTATES AND TRUSTS
EXEMPTIONS
FEDERAL GOVERNMENT
INHERITANCE TAX
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
TAX CREDITS -see also- CIRCUIT BREAKER

Bill affects the following Statute:

Tax - General
( 7-309 )

Documents:

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