2006 Regular Session

HOUSE BILL 1269

File Code: Taxes - Income
Sponsored By:
Delegates King, Barkley, Bozman, G. Clagett, Dumais, Feldman, Gordon, Levy, Murray, Patterson, and Ramirez
Entitled:
Income Tax - Corporations - Payments to Related Entities

Synopsis:

Providing an exception to a requirement that otherwise deductible interest expenses and intangible expenses paid by a corporation to related entities must be added to the federal taxable income to determine Maryland modified income under specified circumstances, if during the same taxable year the corporation making the payment directly or indirectly received the interest expense or intangible expense from a person who is not a related member; and applying the Act to tax years after 2006.

History by Legislative Date

House Action
2/10
First Reading Ways and Means
3/1
Hearing 3/21 at 1:00 p.m.
3/16
Hearing cancelled
3/20
Withdrawn
Senate Action
No Action

Sponsored by:

Delegate Nancy J. King, District 39
Delegate Charles Barkley, District 39
Delegate K. Bennett Bozman, District 38B
Delegate Galen R. Clagett, District 3A
Delegate Kathleen M. Dumais, District 15
Delegate Brian J. Feldman, District 15
Delegate Michael R. Gordon, District 17
Delegate Murray D. Levy, District 28
Delegate Gareth E. Murray, District 20
Delegate Obie Patterson, District 26
Delegate Victor R. Ramirez, District 47

Bill indexed under the following Subjects:

CORPORATIONS -see also- MUNICIPAL CORPORATIONS
INCOME TAX

Bill affects the following Statute:

Tax - General
( 10-306.1 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note: Not available at this time
Amendments: None offered