HOUSE BILL 1100

Sponsored By:

Delegate Healey

Entitled:

Recordation and Transfer Taxes - Transfers of Controlling Interests

Synopsis:

Imposing recordation and transfer taxes on the transfer of controlling interest in a corporation, partnership, association, limited liability company, other unincorporated form of doing business, or trust that owns interests in real property in Maryland that constitutes at least 80% of the value of its assets and has an aggregate value of at least $500,000; establishing the rate of taxation and the method of calculation of tax liability; exempting specified transfers; providing for interest and a penalty for specified filings; etc.

History by Legislative Date

House Action

2/13

First Reading Ways and Means

2/25

Hearing 3/11 at 3:00 p.m.

3/28

Withdrawn

Senate Action

No Action

Bill indexed under the following Subjects:

ASSESSMENTS AND TAXATION, DEPARTMENT OF

ASSOCIATIONS -see also- COOPERATIVE ASSOCIATIONS

COMMERCE AND BUSINESS -see also- ENTERPRISE ZONES;SMALL BUS.

CORPORATIONS -see also- MERGERS; MUNICIPAL CORPORATIONS

FEES -see also- DEVELOPMENT FEES AND TAXES

INTEREST

PARTNERSHIPS

PENALTIES

RECORDATION -see also- TRANSFER TAX

REPORTS -see also- RECORDS

REVENUE AND TAXES -see also specific taxes -

RULES AND REGULATIONS

TRANSFER TAX -see also- RECORDATION

Bill affects the following Statutes:

Tax - Property

( 12-114 , 13-103 )

Documents:

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

Fiscal Note: Available (PDF)

Amendments: None offered