1997 Regular Session

SENATE BILL 655

File Code: Income Prior Year Introduction As: SB 640/96 - B&T
Sponsored By:
Senators Pinsky, Teitelbaum, and Trotter
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 $200,000 at 5%, $200,001 to $350,000 at 6%, $350,001 to $500,000 at 6.5%, and above $500,000 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 $200,000 at 6%, $200,001 to $300,000 at 6.5%, and above $300,000 at 7%; providing a grant to counties under specified circumstances; and applying the Act to tax years after 1997.

Legislative History

Senate Action
1/31
First Reading Budget and Taxation
2/5
Hearing 2/19 at 1:30 p.m.
3/28
Unfavorable Report by Budget and Taxation
House Action
No Action
Sponsored by:
Senator Paul G. Pinsky, District 22
Senator Leonard H. Teitelbaum, District 19
Senator Decatur W. Trotter, District 24
Bill indexed under the following Subjects:
COUNTIES -see also- CHARTERED COUNTIES; CODE COUNTIES
INCOME TAX
Bill affects the following Statutes:
Tax - General
( 2-608 , 10-105 )

Documents:

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