Maryland House Bill 1250 (Prior Session Legislation)

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Spectrum:
Status: Introduced on February 12 2016 - 25% progression, died in committee
Action: 2016-03-02 - Hearing 3/02 at 1:00 p.m.
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Allowing a subtraction modification under the State income tax for up to $20,000 of nonpassive income attributable to a pass-through entity; providing that the subtraction applies only to nonpassive income of a member of a pass-through entity if specified conditions are met; providing that an individual with specified income in excess of $200,000 or a married couple with specified income in excess of $250,000 are not allowed the subtraction; applying the Act to taxable years beginning after December 31, 2015; etc.

Income Tax - Pass-Through Entities - Exemption

Del. The Speaker [?]

Del. Wendell Beitzel [R]

Del. Jay Walker [D]

Date	Chamber	Action
2016-03-02	House	Hearing 3/02 at 1:00 p.m.
2016-02-12	House	First Reading Ways and Means

Type	Source
Summary	https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1250?ys=2016rs
Text	https://mgaleg.maryland.gov/2016RS/bills/hb/hb1250f.pdf
Supplement	https://mgaleg.maryland.gov/2016RS/fnotes/bil_0000/hb1250.pdf