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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 - Subtraction Modification - Employee-Owned Businesses
Sponsored by
Senators Feldman, Currie, DeGrange, Eckardt, Edwards, Ferguson, Guzzone, Jennings, King, Madaleno, Manno, Mathias, McFadden, Middleton, Peters, Rosapepe, Serafini, Simonaire, Smith, and Young
Status
In the Senate - Hearing 2/21 at 1:00 p.m.
Analysis
Fiscal and Policy Note
Synopsis
Allowing a subtraction modification under the State income tax for income from a qualified transfer of stock or membership interest of a Maryland corporation or limited liability company to certain employee ownership entities; limiting the amount of the subtraction if the transfer is to a direct share ownership plan; applying the Act to taxable years beginning after December 31, 2017; etc.
Committees
Original:
Budget and Taxation  
Details
Cross-filed with: HB0876
Bill File Type: Regular
Effective Date(s): July 1, 2018
History
Legislation History
Chamber
Senate
Calendar Date
1/29/2018
Legislative Date
1/29/2018
Action
First Reading Budget and Taxation
Proceedings
Chamber
Calendar Date
Legislative Date
Action
Text - First - Income Tax - Subtraction Modification - Employee-Owned Businesses
Proceedings
Chamber
Senate
Calendar Date
1/31/2018
Legislative Date
1/31/2018
Action
Hearing 2/21 at 1:00 p.m.
Proceedings
Chamber Calendar Date Legislative Date Action Proceedings
Senate 1/29/2018 1/29/2018 First Reading Budget and Taxation
Text - First - Income Tax - Subtraction Modification - Employee-Owned Businesses
Senate 1/31/2018 1/31/2018 Hearing 2/21 at 1:00 p.m.
File Code
Subjects
Statutes
(   10-207, 10-307 )
Last Updated: 2/3/2020 2:35 PM