2001 Regular Session

SENATE BILL 701

File Code: Taxes - Income
Sponsored By:
Senators Neall, Currie, Hogan, Kasemeyer, Middleton, Stoltzfus, and Van Hollen
Entitled:
Income Tax - Single Sales Factor Apportionment for Manufacturing Corporations

Synopsis:

Altering a formula used to apportion income to the State for specified manufacturing corporations that carry on a trade or business in and out of the State; requiring manufacturing corporations to submit specified reports as a part of their income tax returns for specified taxable years; applying the Act to tax years beginning after December 31, 2000; etc.

History by Legislative Date

Senate Action
2/2
First Reading Budget and Taxation
2/14
Hearing 3/7 at 1:30 p.m.
3/26
Favorable with Amendments Report by Budget and Taxation
Favorable with Amendments
Laid Over (Senator Pinsky) Adopted
3/27
Favorable with Amendments Report Adopted
Floor Amendment (Senator Pinsky) Rejected (9-35)
Second Reading Passed with Amendments
3/28
Third Reading Passed (43-0)
4/5
Returned Passed
5/17
Governor vetoed - Duplicative
House Action
3/25
First Reading Ways and Means
3/29
Hearing 4/4 at 1:00 p.m.
4/6
Favorable Report by Ways and Means
4/1
Favorable Report Adopted
Second Reading Passed
4/2
Third Reading Passed (137-2)
Sponsored by:
Senator Robert R. Neall, District 33
Senator Ulysses Currie, District 25
Senator Patrick J. Hogan, District 39
Senator Edward J. Kasemeyer, District 12
Senator Thomas M. Middleton, District 28
Senator J. Lowell Stoltzfus, District 38
Senator Christopher Van Hollen, Jr., District 18
Bill indexed under the following Subjects:
BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF
COMPTROLLER
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
INCOME TAX
INDUSTRY AND TECHNOLOGY
INTERSTATE AFFAIRS
REPORTS
RULES AND REGULATIONS
Bill affects the following Statute:
Tax - General
( 10-402 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments:
Senate
Number: 833729/1 (PDF)     Offered on: March 27, 2001   at: 12:23 p.m.     Status: Rejected
Number: 849039/1 (PDF)     Offered on: March 27, 2001   at: 12:22 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
March 27, 2001: Floor Amendment (Pinsky) {833729/1 Rejected (9-35)
March 28, 2001: Third Reading Passed (43-0)
House
April 2, 2001: Third Reading Passed (137-2)