2013 Regular Session



Income Tax - Pass-Through Entity - Maximum Rate

Sponsored by:

Senator Brinkley


In the Senate - Hearing 1/30 at 3:00 p.m.

Synopsis:Providing that for income distributed to specified members of an S corporation, specified partnerships, a limited liability company, or specified trusts the State income tax rate is 2.875% and the county income tax rate may not exceed 1.6%; applying the Act to taxable years beginning after December 31, 2012; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Senator Brinkley
Additional Facts:Bill File Type: Pre-Filed
Effective Date(s): July 1, 2013
Budget and Taxation  Listen to Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Business Trusts
Corporations -see also- Municipal Corps; Public Corps & Inst
Counties -see also- Chartered Counties; Code Counties
Income Tax
Limited Liability Companies
Statutes:Article - Tax - General
(10-105, 10-106)

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Explanation of Floor Motions and Actions

October 24, 2017 1:07 P.M.