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2018 Regular Session



Income Tax Subtraction Modification - Retirement Income (Fairness in Taxation for Retirees Act)

Sponsored by:

Delegate Krebs


In the House - Hearing 2/14 at 1:00 p.m.

Synopsis:Including income from certain retirement plans within a certain subtraction modification allowed under the Maryland income tax for certain individuals who are at least 65 years of age or who are disabled or whose spouse is disabled; repealing a certain obsolete provision relating to a rollover individual retirement account; and applying the Act to all taxable years beginning after December 31, 2017.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Delegates Krebs, Carozza, Kittleman, Mautz, McComas, Miele, W. Miller, Morgan, Rose, and Shoemaker
Additional Facts:Introduced in a prior session as: HB0195 Session: 2017 Regular Session
Bill File Type: Regular
Effective Date(s): July 1, 2018
Ways and Means  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Exemptions
Income Tax
Retirement Systems -see also- Mandatory Retirement
Statutes:Article - Tax - General

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April 25, 2018 4:12 P.M.