MD SB216 | 2020 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on January 16 2020 - 25% progression
Action: 2020-01-20 - Hearing 1/29 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Imposing a tax of 17% on the Maryland taxable income attributable to certain investment management services of an individual or a corporation or the distributive share of a pass-through entity; providing that the tax does not apply to investment management services if at least 80% of the specified assets consists of real estate; terminating the Act if certain federal legislation is enacted into law; applying the Act to taxable years beginning after December 31, 2019; etc.

Tracking Information

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Title

Income Tax - Carried Interest - Additional Tax

Sponsors


History

DateChamberAction
2020-01-20SenateHearing 1/29 at 1:00 p.m.
2020-01-16SenateFirst Reading Budget and Taxation

Same As/Similar To

HB439 (Crossfiled) 2020-02-04 - Hearing 2/12 at 1:00 p.m.

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
Tax - General10102.1(n/a)See Bill Text
Tax - General10102.2(n/a)See Bill Text

Maryland State Sources


Bill Comments

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