MD SB146 | 2020 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 10 2020 - 25% progression
Action: 2020-01-10 - Hearing 1/22 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Allowing a subtraction modification under the Maryland income tax for amounts of ordinary and necessary expenses paid or incurred during the taxable year, including a reasonable allowance for salaries and certain other compensation, in carrying on a trade or business as a certain medical cannabis grower, processor, dispensary, or independent testing laboratory; applying the Act to taxable years beginning after December 31, 2019; etc.

Tracking Information

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Title

Income Tax - Subtraction Modification - Expenses of Medical Cannabis Grower, Processor, Dispensary, or Independent Testing Laboratory

Sponsors


History

DateChamberAction
2020-01-10SenateHearing 1/22 at 1:00 p.m.
2020-01-10SenateFirst Reading Budget and Taxation

Same As/Similar To

HB1210 (Crossfiled) 2020-02-10 - Hearing 3/05 at 1:00 p.m. (Ways and Means)

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
Tax - General10208(n/a)See Bill Text
Tax - General10308(n/a)See Bill Text

Maryland State Sources


Bill Comments

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