HB0424

Find a 2016 Bill:

2016 Regular Session

 

Entitled:

Income Tax - Expensing of Business Property and Bonus Depreciation

Sponsored by:

Delegate Morgan

Status:

In the House - Hearing 2/16 at 1:00 p.m.


Synopsis:Limiting, with respect to property placed in service before January 1, 2016, the applicability of Maryland income tax modifications for specified deductions for the cost of business property that is treated as an expense for federal income tax purposes; limiting, with respect to property placed in service before January 1, 2016, the applicability of Maryland income tax modifications for a specified additional depreciation allowance under the federal income tax for specified business property; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Delegates Morgan, Adams, Afzali, Cassilly, Fisher, S. Howard, Kipke, Krebs, McComas, Miele, Rey, Rose, Saab, Shoemaker, West, and B. Wilson
Additional Facts:Introduced in a prior session as: SB0880 Session: 2015 Regular Session
Bill File Type: Regular
Effective Date(s): July 1, 2016
Committee(s):
Ways and Means  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Corporations -see also- Municipal Corps; Public Corps & Inst
Equipment -see also- Motor Vehicle Equipment
Exemptions
Income Tax
Personal Property
Statutes:Article - Tax - General
(10-210.1, 10-310)

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October 24, 2017 4:59 P.M.