MD HB1087 | 2021 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 5 2021 - 25% progression, died in committee
Action: 2021-02-05 - First Reading Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 5 2021 - 25% progression, died in committee
Action: 2021-02-05 - First Reading Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Clarifying certain provisions of law concerning the State income tax imposed on certain pass-through entities; authorizing a pass-through entity to elect to pay that tax imposed with respect to certain shares of all members of the pass-through entity, rather than only resident members; requiring certain taxpayers to add the amount of the credit back to federal adjusted gross income to determine Maryland adjusted gross income; etc.
Title
Income Tax – Pass–Through Entities – State and Local Taxes
Sponsors
| Del. Anne Kaiser [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2021-02-05 | House | First Reading Ways and Means |
Same As/Similar To
SB880 (Crossfiled) 2021-02-16 - Hearing canceled
Subjects
Business Trusts
Corporations
Emergency Bills
Income Tax
Limited Liability Companies
Partnerships
Residency
Tax Credits
Taxes - Income
Corporations
Emergency Bills
Income Tax
Limited Liability Companies
Partnerships
Residency
Tax Credits
Taxes - Income
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 102.1 | (n/a) | See Bill Text |
| Tax - General | 10 | 205 | (n/a) | See Bill Text |
| Tax - General | 10 | 306 | (n/a) | See Bill Text |
| Tax - General | 10 | 701.1 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1087?ys=2021RS |
| Text | https://mgaleg.maryland.gov/2021RS/bills/hb/hb1087f.pdf |
