Legislation

Title: Income Tax - Expensing of Business Property and Bonus Depreciation - Recoupling With Federal Law
Sponsored by: Delegate Chisholm
Status: In the House - Withdrawn by Sponsor
Analysis: Fiscal and Policy Note

Synopsis

Repealing Maryland income tax modifications for specified deductions for the cost of business property that is treated as an expense for federal income tax purposes; repealing Maryland income tax modifications for a specified additional depreciation allowance under the federal income tax for specified business property; and applying the Act to all taxable years beginning after December 31, 2020.

Committees

Original:: Ways and Means

Committee Testimony

Witness List

Details

Bill File Type: Regular

Effective Date(s): July 1, 2021

History

Legislation History
Chamber House Calendar Date 1/22/2021 Legislative Date 1/22/2021 Action First Reading Ways and Means Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Income Tax - Expensing of Business Property and Bonus Depreciation - Recoupling With Federal Law Proceedings
Chamber House Calendar Date 1/26/2021 Legislative Date 1/26/2021 Action Hearing 2/11 at 1:30 p.m. Proceedings
Chamber House Calendar Date 2/11/2021 Legislative Date 2/11/2021 Action Hearing canceled Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Ways and Means Proceedings Click to view Recorded Media
Chamber House Calendar Date 2/15/2021 Legislative Date 2/15/2021 Action Withdrawn by Sponsor Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	1/22/2021	1/22/2021	First Reading Ways and Means
			Text - First - Income Tax - Expensing of Business Property and Bonus Depreciation - Recoupling With Federal Law
House	1/26/2021	1/26/2021	Hearing 2/11 at 1:30 p.m.
House	2/11/2021	2/11/2021	Hearing canceled
			Vote - House - Committee - Ways and Means	Click to view Recorded Media
House	2/15/2021	2/15/2021	Withdrawn by Sponsor

File Code

Subjects

Statutes