MD SB323 | 2012 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 27 2012 - 25% progression, died in chamber
Action: 2012-02-06 - Unfavorable Report by Budget and Taxation Withdrawn
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 27 2012 - 25% progression, died in chamber
Action: 2012-02-06 - Unfavorable Report by Budget and Taxation Withdrawn
Text: Latest bill text (Introduced) [PDF]
Summary
Increasing the State income tax rate by 0.25% on individual income; reducing the amount allowed as a deduction for specified personal exemptions under the Maryland income tax; increasing the amount that must be withheld from specified payments; requiring the Comptroller to waive interest and penalties for the 2012 calendar year to the extent the interest and penalties are due to the tax rate increase; making the Act contingent on the taking effect of another Act; and applying the Act to taxable years after December 31, 2011.
Title
Income Tax - Rate Increase and Personal Exemption Reduction
Sponsors
| Sen. Roger Manno [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2012-02-06 | Unfavorable Report by Budget and Taxation Withdrawn | |
| 2012-01-27 | First Reading Budget and Taxation |
Subjects
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Search/Legislation?target=/2012rs/billfile/SB0323.htm |
| Text | http://mlis.state.md.us/2012rs/bills/sb/sb0323f.pdf |
