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Legislation


2004 Regular Session

SENATE BILL 478

File Code: Taxes - Income Crossfiled with: HOUSE BILL 1061
Sponsored By:
Senators Jones, Conway, Della, Exum, Forehand, Grosfeld, and Pinsky
Entitled:
Millionaires' Tax Surcharge

Synopsis:

Increasing the State income tax rate on individuals whose Maryland taxable income exceeds $500,000 to 7.75%; requiring the Comptroller to waive specified interest and penalty for the 2004 taxable year; and applying the Act to tax years after 2003.

History by Legislative Date

Senate Action
2/6
First Reading Budget and Taxation
2/11
Hearing 2/25 at 1:00 p.m.
House Action
No Action
Sponsored by:
Senator Verna L. Jones, District 44
Senator Joan Carter Conway, District 43
Senator George W. Della, Jr., District 46
Senator Nathaniel Exum, District 24
Senator Jennie M. Forehand, District 17
Senator Sharon M. Grosfeld, District 18
Senator Paul G. Pinsky, District 22
Bill indexed under the following Subjects:
COMPTROLLER
INCOME TAX
INTEREST
PENALTIES
Bill affects the following Statute:
Tax - General
( 10-105 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered
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