1996 Regular Session

SENATE BILL 640

File Code: Taxes - Income Prior Year Introduction As: SB 459/95 - B&T
Sponsored By:
Senators Pinsky and Sfikas
Entitled:
Individual Income Tax - Rates

Synopsis:

Altering the rates and rate brackets under the Maryland individual income tax as follows: for joint and other specified returns, taxing income of $2,001 to $10,000 at 4%, $10,001 to $150,000 at 5%, $150,001 to $275,000 at 6%, $275,001 to $400,000 at 6.5%, and above $400,000 at 7%; for other returns, taxing income of $2,001 to $5,000 at 4%, $5,001 to $100,000 at 5%, $100,001 to $175,000 at 6%, $175,001 to $250,000 at 6.5%, and above $250,000 at 7%; and applying the Act to tax years after 1996.

Legislative History

Senate Action
2/2
First Reading Budget and Taxation
2/28
Hearing 3/15 at 12:00 p.m.
3/6
Hearing cancelled
Hearing 3/15 at 2:00 p.m.
House Action
No Action
Sponsored by:
Senator Paul G. Pinsky, District 22
Senator Perry Sfikas, District 46
Bill indexed under the following Subject:
INCOME TAX
Bill affects the following Statute:
Tax - General
( 10-105 )

Documents:

Bill Text:
First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)

Amendments: None available