File Code: Income
- Sponsored By:
-
Senators Haines, Roesser, McCabe, Craig, Stoltzfus, Colburn,
Ferguson, and Derr
- Entitled:
-
Income Tax Reduction
Reducing the top marginal tax rate under the Maryland State income tax
on individuals to 4.925% for tax year 1998, 4.85% for tax year 1999,
and 4.75% for tax years after 1999; increasing the amount allowed for
specified personal exemptions to $1,500 for tax year 1998, $1,850 for
tax year 1999, and $2,400 for tax years after 1999; and altering the
maximum amount of a subtraction allowed for two-income married couples
to $1,173 for tax year 1998, $1,144 for tax year 1999, and $1,105 for
tax years after 1999.
Senate Action
- 2/6
- First Reading Budget and Taxation
- 2/11
- Hearing 2/25 at 1:30 p.m.
- 3/23
- Unfavorable Report by Budget and Taxation
House Action
- No Action
- Sponsored by:
- Senator Larry E. Haines, District 5
- Senator Richard F. Colburn, District 37
- Senator David R. Craig, District 34
- Senator John W. Derr, District 3
- Senator Timothy R. Ferguson, District 4
- Senator Christopher J. McCabe, District 14
- Senator Jean W. Roesser, District 15
- Senator J. Lowell Stoltzfus, District 38
- Bill indexed under the following Subjects:
- EXEMPTIONS
- INCOME TAX
- Bill affects the following Statutes:
- Tax - General
- (
10-105 ,
10-207 ,
10-211
)
- Bill Text:
First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
None offered
