SENATE BILL 727

Sponsored By:

Senators Ruben, Astle, Conway, Currie, Exum, Forehand, Frosh, Giannetti, Gladden, Green, Grosfeld, Hollinger, Jones, Lawlah, McFadden, Middleton, Pinsky, Stone, and Teitelbaum

Entitled:

Corporate Income Tax Reform

Synopsis:

Requiring specified corporations to compute Maryland taxable income using a specified method; providing that, except as provided by and subject to regulations of the Comptroller, specified groups of corporations shall file a combined income tax return reflecting the aggregate income tax liability of all of the members of the group; requiring the Comptroller to adopt regulations; applying the Act to tax years after 2003; etc.

History by Legislative Date

Senate Action

2/6

First Reading Budget and Taxation

2/11

Hearing 2/25 at 1:00 p.m.

House Action

No Action

Sponsored by:

Senator Ida G. Ruben, District 20

Senator John C. Astle, District 30

Senator Joan Carter Conway, District 43

Senator Ulysses Currie, District 25

Senator Nathaniel Exum, District 24

Senator Jennie M. Forehand, District 17

Senator Brian E. Frosh, District 16

Senator John A. Giannetti, Jr., District 21

Senator Lisa A. Gladden, District 41

Senator Leo E. Green, District 23

Senator Sharon M. Grosfeld, District 18

Senator Paula C. Hollinger, District 11

Senator Verna L. Jones, District 44

Senator Gloria Lawlah, District 26

Senator Nathaniel J. McFadden, District 45

Senator Thomas McLain Middleton, District 28

Senator Paul G. Pinsky, District 22

Senator Norman R. Stone, Jr., District 6

Senator Leonard H. Teitelbaum, District 19

Bill indexed under the following Subjects:

COMPTROLLER

CORPORATIONS -see also- MUNICIPAL CORPORATIONS

INCOME TAX

INTERNATIONAL AFFAIRS -see also- FOREIGN TRADE

INTERSTATE AFFAIRS

REPORTS

RULES AND REGULATIONS

Bill affects the following Statutes:

Tax - General

( 10-402.1 , 10-804 , 10-811 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered