SENATE BILL 13

File Code: Taxes - Income

Sponsored By:

Senator Forehand

Entitled:

Individual Income Tax - Rate and Personal Exemptions

Synopsis:

Increasing from 4.75% to 5% the top marginal rate under the State income tax on individuals; decreasing from $2,400 to $2,000 the amount allowed as a deduction for specified personal exemptions under the Maryland income tax; repealing obsolete provisions; and applying the Act to tax years after 2007.

History by Legislative and Calendar Date

Senate Action

10/29

First Reading Budget and Taxation

10/31

Hearing 11/2 at 2:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

Exemptions

Income Tax

Bill affects the following Statutes:

Tax - General

( 10-105 , 10-211 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered