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Legislation

Original
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Opposite
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Review in
Original Chamber
Passed Both
Chambers
Conf. Cmte
(if necessary)
To Governor
Title
Income Tax - Pass-Through Entity - Additional Tax
Sponsored by
Delegates Palakovich Carr, Acevero, Barron, Carr, Charkoudian, Ebersole, Feldmark, Ivey, R. Lewis, Lopez, Moon, Mosby, Reznik, Shetty, Smith, Stewart, and Wilkins
Status
In the House - Hearing 2/12 at 1:00 p.m.
Analysis
Fiscal and Policy Note
Synopsis
Imposing a State income tax on income distributed to certain members of certain pass-through entities from the pass-through entity's taxable income exceeding $1,000,000; providing that the tax does not apply to the income of a pass-through entity that is a sole proprietorship or has implemented a certain employee stock ownership plan; applying the Act to taxable years beginning after December 31, 2019; etc.
Committee Testimony
Details
Bill File Type: Regular
Effective Date(s): July 1, 2020
Legislation History
Chamber
House
Calendar Date
1/24/2020
Legislative Date
1/24/2020
Action
First Reading Ways and Means
Proceedings
Chamber
Calendar Date
Legislative Date
Action
Text - First - Income Tax - Pass-Through Entity - Additional Tax
Proceedings
Chamber
House
Calendar Date
1/28/2020
Legislative Date
1/28/2020
Action
Hearing 2/13 at 1:00 p.m.
Proceedings
Chamber
House
Calendar Date
1/29/2020
Legislative Date
1/29/2020
Action
Hearing canceled
Proceedings
Chamber
House
Calendar Date
1/29/2020
Legislative Date
1/29/2020
Action
Hearing 2/12 at 1:00 p.m.
Proceedings
Chamber Calendar Date Legislative Date Action Proceedings
House 1/24/2020 1/24/2020 First Reading Ways and Means
Text - First - Income Tax - Pass-Through Entity - Additional Tax
House 1/28/2020 1/28/2020 Hearing 2/13 at 1:00 p.m.
House 1/29/2020 1/29/2020 Hearing canceled
House 1/29/2020 1/29/2020 Hearing 2/12 at 1:00 p.m.
(   10-102.1, 10-102.2 )
Last Updated: 9/22/2020 1:53 PM
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