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2018 Regular Session



Income Tax - Subtraction Modification - Employee-Owned Businesses

Sponsored by:

Delegate Hornberger


In the House - Unfavorable Report by Ways and Means; Withdrawn

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.
Analysis:Not available at this time
All Sponsors:Delegates Hornberger and Buckel
Additional Facts:Bill File Type: Regular
Effective Date(s): July 1, 2018
Ways and Means
Broad Subject(s):Taxes - Income
Narrow Subject(s):Commerce and Business -see also- Dealers; Elec. Comm.; etc.
Corporations -see also- Municipal Corps; Public Corps & Inst
Estates and Trusts -see also- Beneficiaries
Income Tax
Investments -see also- Securities
Limited Liability Companies
Work, Labor and Employment -see also- Col Barg; Holiday; etc
Statutes:Article - Tax - General
(10-207, 10-307)

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January 29, 2018 7:18 P.M.