1997 Regular Session

SENATE BILL 744

File Code: Income
Sponsored By:
Senator Hoffman
Entitled:
Qualified Capital Gains - Maximum Tax

Synopsis:

Allowing a credit against the Maryland individual income tax to limit to $65,000 the amount of State income tax payable for any taxable year by an individual on qualified capital gain income, as defined; providing that the county income tax is based on the State income tax determined after application of the credit; and applying the Act to tax years after 1996.

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
Bill indexed under the following Subjects:
INCOME TAX
TAX CREDITS
Bill affects the following Statutes:
Tax - General
( 10-706 , 10-708 )

Documents:

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