2004 Regular Session

SENATE BILL 851

File Code: Taxes - Income Crossfiled with: HOUSE BILL 1122
Sponsored By:
Senator Brinkley
Entitled:
Income Tax - Corporations - Addition Modification for Royalty Payments

Synopsis:

Requiring that specified royalty payments be added to the federal taxable income of a corporation to determine Maryland modified income under specified circumstances; allowing a subtraction modification for specified royalty payments received by the taxpayer under specified circumstances; requiring the Comptroller to waive penalties and to assess interest at a rate not to exceed 6.5% under specified circumstances; defining specified terms; etc.

History by Legislative Date

Senate Action
2/20
First Reading Senate Rules
2/27
Re-referred Budget and Taxation
House Action
No Action
Bill indexed under the following Subjects:
COMPTROLLER
COPYRIGHT
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
EXEMPTIONS
INCOME TAX
INTEREST
NAMES -see also- PROPER NAMES
PENALTIES
Bill affects the following Statute:
Tax - General
( 10-306.1 )

Documents:

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