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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 Entities - Exemption
Sponsored by
The President (By Request - Maryland Economic Development and Business Climate Commission)
Status
In the Senate - Hearing 3/02 at 1:00 p.m.
Analysis
Fiscal and Policy Note
Synopsis
Allowing a subtraction modification under the State income tax for up to $20,000 of nonpassive income attributable to a pass-through entity; providing that the subtraction applies only to nonpassive income of a member of a pass-through entity if specified conditions are met; providing that an individual with specified income in excess of $200,000 or a married couple with specified income in excess of $250,000 are not allowed the subtraction; applying the Act to taxable years beginning after December 31, 2015; etc.
Committees
Original:
Budget and Taxation  
Details
Cross-filed with: HB1250
Bill File Type: Regular
Effective Date(s): July 1, 2016
History
Legislation History
Chamber
Senate
Calendar Date
2/08/2016
Legislative Date
2/05/2016
Action
First Reading Budget and Taxation
Proceedings
Chamber
Senate
Calendar Date
2/17/2016
Legislative Date
2/17/2016
Action
Hearing 3/02 at 1:00 p.m.
Proceedings
Chamber Calendar Date Legislative Date Action Proceedings
Senate 2/08/2016 2/05/2016 First Reading Budget and Taxation
Senate 2/17/2016 2/17/2016 Hearing 3/02 at 1:00 p.m.
Documents
File Code
Subjects
Statutes
(   10-105.1 )
Last Updated: 2/3/2020 2:30 PM