MD SB288 | 2021 | Regular Session

Note: Carry Foward to future SB361

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 13 2021 - 25% progression, died in committee
Action: 2020-12-22 - Hearing 1/21 at 11:00 a.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, 2020; etc.

Tracking Information

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Title

Income Tax - Carried Interest - Additional Tax

Sponsors


History

DateChamberAction
2020-12-22SenateHearing 1/21 at 11:00 a.m.
2021-01-13SenateFirst Reading Budget and Taxation
2020-10-15SenatePre-filed

Same As/Similar To

SB288 (Carry Over) 2020-12-22 - Hearing 1/21 at 11:00 a.m.
HB215 (Crossfiled) 2020-12-22 - Hearing 1/21 at 1:30 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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