HOUSE BILL 731

Sponsored By:

Delegates Ross, Hucker, Arora, Barnes, Bobo, Braveboy, Carr, Cullison, Frush, Gaines, Glenn, Healey, Holmes, Hubbard, Ivey, Kaiser, Luedtke, A. Miller, Mizeur, Murphy, Niemann, Pena-Melnyk, Pendergrass, B. Robinson, S. Robinson, Rosenberg, Stukes, Summers, F. Turner, V. Turner, Valderrama, Walker, Washington, and Zucker

Entitled:

Corporate Income Tax - Combined Reporting

Synopsis:

Requiring specified corporations to compute Maryland taxable income using a specified combined reporting method; requiring, subject to specified regulations, specified 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 specified regulations; requiring specified regulations to be consistent with regulations adopted by the Multistate Tax Commission; applying the Act to tax years beginning after 2011; etc.

History by Legislative and Calendar Date

House Action

2/10

First Reading Ways and Means

2/16

Hearing 3/10 at 1:00 p.m.

Senate Action

No Action

Sponsored by:

Delegate Justin D. Ross, District 22

Delegate Sam Arora, District 19

Delegate Ben Barnes, District 21

Delegate Elizabeth Bobo, District 12B

Delegate Aisha N. Braveboy, District 25

Delegate Alfred C. Carr, Jr., District 18

Delegate Bonnie Cullison, District 19

Delegate Barbara Frush, District 21

Delegate Tawanna P. Gaines, District 22

Delegate Cheryl D. Glenn, District 45

Delegate Anne Healey, District 22

Delegate Marvin E. Holmes, Jr., District 23B

Delegate James W. Hubbard, District 23A

Delegate Tom Hucker, District 20

Delegate Jolene Ivey, District 47

Delegate Anne R. Kaiser, District 14

Delegate Eric G. Luedtke, District 14

Delegate Aruna Miller, District 15

Delegate Heather R. Mizeur, District 20

Delegate Peter Murphy, District 28

Delegate Doyle L. Niemann, District 47

Delegate Joseline A. Pena-Melnyk, District 21

Delegate Shane E. Pendergrass, District 13

Delegate Barbara Robinson, District 40

Delegate Shane Robinson, District 39

Delegate Samuel I. Rosenberg, District 41

Delegate Melvin L. Stukes, District 44

Delegate Michael G. Summers, District 47

Delegate Frank S. Turner, District 13

Delegate Veronica Turner, District 26

Delegate Kriselda Valderrama, District 26

Delegate Jay Walker, District 26

Delegate Mary L. Washington, District 43

Delegate Craig J. Zucker, District 14

Bill indexed under the following Subjects:

Comptroller

Corporations -see also- Municipal Corps; Public Corps & Inst

Income Tax

Rules and Regulations

Bill affects the following Statutes:

Tax - General

( 10-402.1 , 10-811 )

Documents

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Available

Amendments: None offered