Legislation

Title: Corporate Income Tax – Combined Reporting and Subtraction Modification for Combined Groups of Corporations
Sponsored by: Delegate Lehman
Status: In the House - Hearing 1/28 at 1:30 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Requiring affiliated corporations to compute Maryland taxable income using a certain combined reporting method; authorizing certain corporations, subject to regulations adopted by the Comptroller, to determine certain income using the water's edge method; requiring, subject to regulations adopted by the Comptroller, certain groups of corporations to file a combined income tax return reflecting the aggregate income tax liability of all the members of the group; requiring the Comptroller to adopt certain regulations; etc.

Committees

Original:: Ways and Means Click to view Recorded Media

Committee Testimony

Witness List

Details

Bill File Type: Pre-Filed

Effective Date(s): July 1, 2022

History

Legislation History
Chamber House Calendar Date 9/17/2020 Legislative Date 9/17/2020 Action Pre-filed Proceedings
Chamber House Calendar Date 1/13/2021 Legislative Date 1/13/2021 Action First Reading Ways and Means Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Corporate Income Tax – Combined Reporting and Subtraction Modification for Combined Groups of Corporations Proceedings
Chamber House Calendar Date 1/07/2021 Legislative Date 1/07/2021 Action Hearing 1/28 at 1:30 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	9/17/2020	9/17/2020	Pre-filed
House	1/13/2021	1/13/2021	First Reading Ways and Means
			Text - First - Corporate Income Tax – Combined Reporting and Subtraction Modification for Combined Groups of Corporations
House	1/07/2021	1/07/2021	Hearing 1/28 at 1:30 p.m.

File Code

Subjects

Statutes