- 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
- In the House - Hearing 2/12 at 1:00 p.m.
- Fiscal and Policy Note
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.
Bill File Type: Regular
Effective Date(s): July 1, 2020
( 10-102.1, 10-102.2 )
Last Updated: 9/22/2020 1:53 PM