- Income Tax - Pass-Through Entities - Exemption
- Sponsored by
- The President (By Request - Maryland Economic Development and Business Climate Commission)
- In the Senate - Hearing 3/02 at 1:00 p.m.
- Fiscal and Policy Note
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.
Bill File Type: Regular
Effective Date(s): July 1, 2016
|Date Posted||Document Name|
|2/09/2016||Text - First - Income Tax - Pass-Through Entities - Exemption|
( 10-105.1 )
Last Updated: 2/3/2020 2:30 PM