MD SB498 | 2018 | Regular Session
Status
Spectrum: Slight Partisan Bill (Democrat 15-5)
Status: Introduced on January 29 2018 - 25% progression, died in committee
Action: 2018-02-21 - Hearing 2/21 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 29 2018 - 25% progression, died in committee
Action: 2018-02-21 - Hearing 2/21 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allowing a subtraction modification under the State income tax for income from a qualified transfer of stock or membership interest of a Maryland corporation or limited liability company to certain employee ownership entities; limiting the amount of the subtraction if the transfer is to a direct share ownership plan; applying the Act to taxable years beginning after December 31, 2017; etc.
Title
Income Tax - Subtraction Modification - Employee-Owned Businesses
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2018-02-21 | Senate | Hearing 2/21 at 1:00 p.m. |
| 2018-01-29 | Senate | First Reading Budget and Taxation |
Subjects
Commerce and Business
Corporations
Estates and Trusts
Exemptions
Income Tax
Investments
Limited Liability Companies
Securities
Taxes - Income
Work, Labor and Employment
Corporations
Estates and Trusts
Exemptions
Income Tax
Investments
Limited Liability Companies
Securities
Taxes - Income
Work, Labor and Employment
