File Code: Taxes - Income
Prior Year Introduction As: SB 879/02
- Sponsored By:
-
Senators Pinsky and Madaleno
- Entitled:
-
Income Tax - Corporations - Denial of Deduction for Excessive Compensation of
Officers and Directors
Providing an addition modification under the Maryland corporate income
tax for the amount of salary, wages, or other compensation for
personal services paid or incurred by a corporation to an officer or
director of the corporation in excess of 30 times the annual salary,
wages, or other compensation for personal services of the lowest paid
full-time employee; and applying the Act to taxable years beginning
after December 31, 2006.
Senate Action
- 2/2
- First Reading Budget and Taxation
- 2/7
- Hearing 2/28 at 1:00 p.m.
House Action
- No Action
Sponsored by:
- Senator Paul G. Pinsky, District 22
- Senator Richard S. Madaleno, Jr., District 18
Bill indexed under the following Subjects:
- Corporations -see also- Municipal Corps; Public Corps & Inst
- Exemptions
- Income Tax
- Salaries -see also- Overtime; Reimbursement Rates
Bill affects the following Statutes:
- Tax - General
- (
10-305 ,
10-305
)
- Bill Text (Displayed in PDF Format):
First Reading,
Third Reading, Enrolled
- Fiscal and Policy Note (Displayed in PDF Format):
Available
- Amendments:
None offered