File Code: Income
Prior Year Introduction As: SB 561/95 - B&T
- Sponsored By:
-
Senators Pinsky, Sfikas, and Teitelbaum
- Entitled:
-
Income Tax - Corporations - Denial of Deduction for Excessive
Compensation of Officers and Directors
Establishing an addition modification under the Maryland corporate
income tax for the amount of salary, wages, or other compensation for
personal services paid or incurred by a corporation to an officer or
director of the corporation in excess of 20 times the annual salary,
wages, or other compensation of the lowest paid full-time employee;
and applying the Act to all taxable years beginning after December 31,
1996.
Senate Action
- 1/31
- First Reading Budget and Taxation
- 2/5
- Hearing 2/19 at 1:30 p.m.
- 3/3
- Unfavorable Report by Budget and Taxation
House Action
- No Action
- Sponsored by:
- Senator Paul G. Pinsky, District 22
- Senator Perry Sfikas, District 46
- Senator Leonard H. Teitelbaum, District 19
- Bill indexed under the following Subjects:
- CORPORATIONS -see also- MERGERS
- INCOME TAX
- SALARIES
- Bill affects the following Statutes:
- Tax - General
- (
10-305 ,
10-305
)
- Bill Text:
- First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)