2004 Regular Session

HOUSE BILL 1037

File Code: Taxes - Income
Sponsored By:
Delegates Hixson, Bozman, C. Davis, Gordon, Healey, Howard, Marriott, and Patterson
Entitled:
Corporate Income Tax Reform

Synopsis:

Authorizing the Comptroller to allocate income, deductions, credits, or allowances between and among two or more organizations under specified circumstances; requiring specified interest expenses and intangible expenses to be added to the federal taxable income of a corporation for the purpose of determining Maryland modified income under specified circumstances; and providing that the Act shall be applicable to taxable years beginning after December 31, 2003.

History by Legislative Date

House Action
2/12
First Reading Ways and Means
2/18
Hearing 2/25 at 1:00 p.m.
Senate Action
No Action
Sponsored by:
Delegate Sheila E. Hixson, District 20
Delegate K. Bennett Bozman, District 38B
Delegate Clarence Davis, District 45
Delegate Michael R. Gordon, District 17
Delegate Anne Healey, District 22
Delegate Carolyn J. B. Howard, District 24
Delegate Salima Siler Marriott, District 40
Delegate Obie Patterson, District 26
Bill indexed under the following Subjects:
COMMERCE AND BUSINESS -see also- DEALERS; TRADERS; etc
COMPTROLLER
COPYRIGHT
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
FEES -see also- DEVELOPMENT FEES AND TAXES
INCOME TAX
INTEREST
INTERNATIONAL AFFAIRS -see also- FOREIGN TRADE
INTERSTATE AFFAIRS
PENALTIES
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
RULES AND REGULATIONS
SECURITIES
Bill affects the following Statutes:
Tax - General
( 10-109 , 10-306.1 , 10-804 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered