MD HB457 | 2022 | Regular Session
Note: Carry Foward to future HB46
Status
Spectrum: Partisan Bill (Democrat 6-0)
Status: Introduced on January 20 2022 - 25% progression, died in committee
Action: 2022-01-26 - Hearing 2/09 at 1:00 p.m.
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 20 2022 - 25% progression, died in committee
Action: 2022-01-26 - Hearing 2/09 at 1:00 p.m.
Pending: House Ways and Means 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 affiliated 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 the water's edge method; etc.
Title
Corporate Income Tax - Throwback Rule and Combined Reporting
Sponsors
| Del. Mary Lehman [D] | Del. Julie Palakovich Carr [D] | Del. Robbyn Lewis [D] | Del. David Moon [D] |
| Del. Sheila Ruth [D] | Del. Vaughn Stewart [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2022-01-26 | House | Hearing 2/09 at 1:00 p.m. |
| 2022-01-20 | House | First Reading Ways and Means |
Same As/Similar To
HB457 (Carry Over) 2022-01-26 - Hearing 2/09 at 1:00 p.m.
Subjects
Commerce and Business
Comptroller
Corporations
Exemptions
Fines
Foreign Trade
Income Tax
Interest
Partnerships
Personal Property
Records
Rules and Regulations
Tax Returns
Taxes - Income
Comptroller
Corporations
Exemptions
Fines
Foreign Trade
Income Tax
Interest
Partnerships
Personal Property
Records
Rules and Regulations
Tax Returns
Taxes - Income
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 311 | (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 |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0457?ys=2022RS |
| Text | https://mgaleg.maryland.gov/2022RS/bills/hb/hb0457f.pdf |
