File Code: Income
- Sponsored By:
-
Delegates Finifter, Morhaim, Frank, and Klausmeier
- Entitled:
-
Horse Racing and Breeding Industry Retention Tax Act of 1997
Providing a subtraction modification under the Maryland individual and
corporation income taxes for losses from qualified horse racing and
breeding activities, as defined, that are disallowed for federal
income tax purposes as passive activity losses; providing a
subtraction modification for 50% of the gain recognized for the
taxable year from the sale or exchange of an interest in qualified
horse racing and breeding activities; applying the Act to taxable
years after 1997; etc.
House Action
- 1/31
- First Reading Ways and Means
- 2/5
- Hearing 2/20 at 1:00 p.m.
- 3/19
- Unfavorable Report by Ways and Means
Senate Action
- No Action
- Sponsored by:
- Delegate Michael J. Finifter, District 11
- Delegate Robert L. Frank, District 11
- Delegate Katherine Klausmeier, District 8
- Delegate Dan K. Morhaim, District 11
- Bill indexed under the following Subjects:
- ANIMALS -see also- BIRDS; HUNTING; TRAPPING
- EXEMPTIONS
- INCOME TAX
- RACING
- Bill affects the following Statutes:
- Tax - General
- (
10-205 ,
10-205 ,
10-208 ,
10-208 ,
10-306 ,
10-308
)
- Bill Text:
- First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
