2009 Regular Session

SENATE BILL 472

File Code: Taxes - Income Prior Year Introduction As: SB 395/07 - B&T
Sponsored By:
Senators Pinsky, Conway, Della, Frosh, Harrington, Lenett, Madaleno, and Raskin
Entitled:
Income Tax - Corporations - Denial of Deduction for Excessive Compensation of Officers and Directors

Synopsis:

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 25 times the annual salary, wages, or other compensation for personal services of the lowest paid full-time employee; applying the Act to tax years after 2008; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.
Senate Action
2/4
First Reading Budget and Taxation
2/11
Hearing 2/25 at 1:00 p.m.
3/2
Unfavorable Report by Budget and Taxation
House Action
No Action

Sponsored by:

Senator Paul G. Pinsky, District 22
Senator Joan Carter Conway, District 43
Senator George W. Della, Jr., District 46
Senator Brian E. Frosh, District 16
Senator David C. Harrington, District 47
Senator Mike Lenett, District 19
Senator Richard S. Madaleno, Jr., District 18
Senator Jamie Raskin, District 20

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 )

Documents:

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