HOUSE BILL 55

File Code: Income

Sponsored By:

Delegate Rosenberg

Entitled:

Income Tax - Subtraction Modification for Federal Insurance Contribution Act Tax and Federal Self-Employment Income Tax - Tobacco Tax

Synopsis:

Providing a subtraction modification under the Maryland individual income tax for Federal Insurance Contribution Act tax and self-employment income tax paid by an individual; providing for a maximum subtraction modification amount of the lesser of the tax paid or $2,700 for each individual; providing for an offsetting increase in the tobacco tax rate; etc.

History by Legislative Date

House Action

1/18

First Reading Ways and Means

1/20

Hearing 2/4 at 11:00 a.m.

1/21

Hearing cancelled

2/17

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

3/22

Unfavorable Report by Ways and Means

Senate Action

No Action

Bill indexed under the following Subjects:

CIGARETTES -see also- SMOKING

EXEMPTIONS

FEDERAL GOVERNMENT

INCOME TAX

INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS

REVENUE AND TAXES -see also specific taxes-

STAMPS AND COINS

TOBACCO

Bill affects the following Statutes:

Tax - General

( 10-208 , 10-208 , 12-105 , 12-303 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered