File Code: Taxes - Income
Crossfiled with: SENATE BILL 341
- Sponsored By:
-
Delegate Barve
- Entitled:
-
Income Tax - Corporations - Payments to Related Entities - Foreign
Taxes
Providing that specified taxes imposed by specified foreign nations be
taken into account for purposes of specified exceptions to a
requirement that otherwise deductible interest expenses and intangible
expenses paid by a corporation to related entities be added to the
federal taxable income to determine Maryland modified income under
specified circumstances; and applying the Act to tax years after 2004.
House Action
- 2/7
- First Reading Ways and Means
- 2/16
- Hearing 3/9 at 1:00 p.m.
- 3/26
- Favorable Report by Ways and Means
- 3/25
- Favorable Report Adopted
- Second Reading Passed
- 3/26
- Third Reading Passed (121-12)
- 4/5
- Returned Passed
Senate Action
- 3/28
- First Reading Budget and Taxation
- 4/6
- Favorable Report by Budget and Taxation
- 4/5
- Favorable Report Adopted
- Second Reading Passed
- 4/6
- Third Reading Passed (47-0)
Action after passage in House and Senate
- 5/26
- Governor vetoed - Cross-filed bill was signed
Bill indexed under the following Subjects:
- CORPORATIONS -see also- MUNICIPAL CORPORATIONS
- EXEMPTIONS
- FEDERAL GOVERNMENT
- INCOME TAX
- INTEREST
- INTERNATIONAL AFFAIRS -see also- FOREIGN TRADE
- REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
Bill affects the following Statute:
- Tax - General
- (
10-306.1
)
- Bill Text (Displayed in PDF Format):
First Reading,
Third Reading, Enrolled
- Fiscal Note (Displayed in PDF Format):
Available
- Amendments:
None offered
- Roll Call Votes (Legislative dates are shown):
House
- March 26, 2005: Third Reading Passed (121-12)
Senate
- April 6, 2005: Third Reading Passed (47-0)