Passed BothConf. Cmte
- Income Tax - Subtraction Modification - Employee-Owned Businesses
- Sponsored by
- Senators Guzzone, Eckardt, Edwards, Feldman, Ferguson, Jennings, King, Nathan-Pulliam, Peters, Rosapepe, Serafini, Simonaire, Smith, Young, and Zucker
- In the Senate - Hearing 2/20 at 1:00 p.m.
- Fiscal and Policy Note
Allowing a subtraction modification under the State income tax for income from a qualified transfer of stock or membership interest of a Maryland corporation or limited liability company to certain employee ownership entities; limiting the amount of the subtraction if the transfer is to a direct share ownership plan; applying the Act to taxable years beginning after December 31, 2018; etc.
Bill File Type: Regular
Effective Date(s): July 1, 2019
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( 10-207, 10-307 )
Last Updated: 2/3/2020 2:33 PM