MD HB1384 | 2014 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 12 2014 - 25% progression, died in chamber
Action: 2014-03-14 - Unfavorable Report by Ways and Means; Withdrawn
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 12 2014 - 25% progression, died in chamber
Action: 2014-03-14 - Unfavorable Report by Ways and Means; Withdrawn
Text: Latest bill text (Introduced) [PDF]
Summary
Allowing an individual a credit against the State income tax equal to the amount by which the tax, when applying a specified effective tax rate, on the individual's distributive share of pass-through entity income exceeds the tax on the individual's distributive share of pass-through entity income when applying a tax rate of 2.875%; providing that an individual may not claim the credit if the individual's effective tax rate is less than 2.875%; and applying the Act to taxable years beginning after December 31, 2013.
Title
Income Tax Credit - Pass-Through Entities
Sponsors
Sen. Gail Bates [R] |
History
Date | Chamber | Action |
---|---|---|
2014-03-14 | House | Unfavorable Report by Ways and Means; Withdrawn |
2014-03-10 | House | Hearing cancelled |
2014-03-11 | House | Hearing 3/11 at 1:00 p.m. |
2014-02-24 | House | Rereferred to Ways and Means |
2014-02-12 | House | First Reading House Rules and Executive Nominations |
Subjects
Business Trusts
Corporations
Income Tax
Limited Liability Companies
Partnerships
Tax Credits
Taxes - Income
Corporations
Income Tax
Limited Liability Companies
Partnerships
Tax Credits
Taxes - Income