2006 Regular Session

HOUSE BILL 1348

File Code: Taxes - Miscellaneous Prior Year Introduction As: SB 99/05 - B&T Crossfiled with: SENATE BILL 295
Sponsored By:
Delegate Trueschler
Entitled:
Maryland Estate Tax - Unified Credit Effective Exemption Amount and Deduction for State Death Taxes

Synopsis:

Repealing a provision limiting the unified credit used to determine the Maryland estate tax to the amount corresponding to a $1 million exclusion amount under the federal estate tax; repealing a requirement that the tax be determined without regard to the deduction for State death taxes under the federal estate tax; repealing a requirement that a person responsible for paying the inheritance tax file an estate tax return and pay the estate tax under specified circumstances; and applying the Act to decedents dying after December 31, 2005.

History by Legislative Date

House Action
2/10
First Reading Ways and Means
2/22
Hearing 3/8 at 1:00 p.m.
Senate Action
No Action

Bill indexed under the following Subjects:

DEATH -see also- ADVANCE MEDICAL DIRECTIVES; WRONGFUL DEATH.
ESTATES AND TRUSTS
EXEMPTIONS
FEDERAL GOVERNMENT
INHERITANCE TAX
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
TAX CREDITS -see also- CIRCUIT BREAKER

Bill affects the following Statute:

Tax - General
( 7-309 )

Documents:

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