MD SB511 | 2021 | Regular Session
Note: Carry Foward to future SB360
Status
Spectrum: Partisan Bill (Democrat 8-0)
Status: Introduced on January 22 2021 - 25% progression, died in committee
Action: 2021-01-25 - Hearing 2/03 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 22 2021 - 25% progression, died in committee
Action: 2021-01-25 - Hearing 2/03 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Requiring that certain sales of tangible personal property be included in the numerator of the sales factor used for apportioning a corporation's income to the State under certain circumstances; requiring certain corporations to compute Maryland taxable income using a certain combined reporting method; authorizing certain corporations, subject to regulations adopted by the Comptroller, to determine certain income using a certain method; etc.
Title
Corporate Tax Fairness Act of 2021
Sponsors
| Sen. Paul Pinsky [D] | Sen. Delores Kelley [D] | Sen. Jim Rosapepe [D] | Sen. Malcolm Augustine [D] |
| Sen. Clarence Lam [D] | Sen. Susan Lee [D] | Sen. Charles Sydnor [D] | Sen. Mary Washington [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2021-01-25 | Senate | Hearing 2/03 at 1:00 p.m. |
| 2021-01-22 | Senate | First Reading Budget and Taxation |
Same As/Similar To
SB511 (Carry Over) 2021-01-25 - Hearing 2/03 at 1:00 p.m.
Subjects
Comptroller
Corporations
Education
Foreign Ownership
Foreign Trade
Income Tax
Industry and Technology
Interest
Interstate Affairs
Partnerships
Penalties and Sentences
Personal Property
Real Property
Revenue and Taxes
Rules and Regulations
Taxes - Income
Corporations
Education
Foreign Ownership
Foreign Trade
Income Tax
Industry and Technology
Interest
Interstate Affairs
Partnerships
Penalties and Sentences
Personal Property
Real Property
Revenue and Taxes
Rules and Regulations
Taxes - Income
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Education | 5 | 219 | (n/a) | See Bill Text |
| Tax - General | 10 | 402 | (n/a) | See Bill Text |
| Tax - General | 10 | 402.1 | (n/a) | See Bill Text |
| Tax - General | 10 | 811 | (n/a) | See Bill Text |
| Tax - General | 2 | 613.1 | (n/a) | See Bill Text |
| Tax - General | 2 | 614 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0511?ys=2021RS |
| Text | https://mgaleg.maryland.gov/2021RS/bills/sb/sb0511f.pdf |
