HOUSE BILL 1360

File Code: Taxes - Income

Sponsored By:

Delegate Rosapepe

Entitled:

Contributions to Employee Stock Ownership Plans

Synopsis:

Requiring the amount allowed as a deduction under the Internal Revenue Code for employer contributions to a trust that forms part of an employee stock ownership plan to be added to the federal taxable income of a corporation to determine Maryland modified income under specified circumstances; and applying the Act.

Legislative History

House Action

2/23

First Reading Ways and Means

Hearing 3/14 at 1:00 p.m.

Senate Action

No Action

Bill indexed under the following Subjects:

CORPORATIONS -see also- MERGERS

EXEMPTIONS

INCOME TAX

SECURITIES

WORK, LABOR AND EMPLOYMENT -see also- LEAVE, OVERTIME

Bill affects the following Statute:

Tax - General

( 10-305 )

Documents:

Bill Text:

First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None available