MD HB1052 | 2021 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 5 2021 - 25% progression, died in committee
Action: 2021-02-08 - Hearing 2/25 at 1:30 p.m.
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 5 2021 - 25% progression, died in committee
Action: 2021-02-08 - Hearing 2/25 at 1:30 p.m.
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allowing a subtraction modification under the Maryland income tax for certain expenses paid or incurred during the taxable year if the payment of the expense results in forgiveness of a certain loan and the income that results from the forgiveness is excluded from federal adjusted gross income in accordance with certain provisions of the federal CARES Act; and applying the Act to taxable years 2020 and 2021.
Title
Income Tax – Subtraction Modification – Trade or Business Expenses Resulting in Federal Loan Forgiveness
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2021-02-08 | House | Hearing 2/25 at 1:30 p.m. |
| 2021-02-05 | House | First Reading Ways and Means |
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 208 | (n/a) | See Bill Text |
| Tax - General | 10 | 308 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1052?ys=2021RS |
| Text | https://mgaleg.maryland.gov/2021RS/bills/hb/hb1052f.pdf |
