File Code: Income
Prior Year Introduction As: SB 70/96 - B&T
- Sponsored By:
-
Senator Haines
- Entitled:
-
Income Tax - Capital Gains
Allowing a subtraction modification for Maryland individual and
corporate income tax purposes for 50% of the first $50,000 of net
capital gain, as defined and determined under the Internal Revenue
Code, subject to reduction for any amounts excluded for federal income
tax purposes; including the amount of the subtracted capital gain
income in items of tax preference for purposes of the individual
income tax; applying the Act to taxable years beginning after December
31, 1996; etc.
Senate Action
- 1/29
- First Reading Budget and Taxation
- Hearing 2/19 at 1:00 p.m.
- 1/30
- Hearing cancelled
- Hearing 2/19 at 1:30 p.m.
- 3/28
- Unfavorable Report by Budget and Taxation
House Action
- No Action
- Bill indexed under the following Subjects:
- EXEMPTIONS
- INCOME TAX
- Bill affects the following Statutes:
- Tax - General
- (
10-207 ,
10-222 ,
10-307
)
- Bill Text:
- First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
