Maryland Senate Bill 841 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 5 2016 - 25% progression, died in committee
Action: 2016-03-02 - Hearing 3/02 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]

Allowing a subtraction modification under the State income tax for up to $20,000 of nonpassive income attributable to a pass-through entity; providing that the subtraction applies only to nonpassive income of a member of a pass-through entity if specified conditions are met; providing that an individual with specified income in excess of $200,000 or a married couple with specified income in excess of $250,000 are not allowed the subtraction; applying the Act to taxable years beginning after December 31, 2015; etc.

Income Tax - Pass-Through Entities - Exemption

Sen. Thomas Miller [D]

Date	Chamber	Action
2016-03-02	Senate	Hearing 3/02 at 1:00 p.m.
2016-02-05	Senate	First Reading Budget and Taxation

Type	Source
Summary	https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0841?ys=2016rs
Text	https://mgaleg.maryland.gov/2016RS/bills/sb/sb0841f.pdf
Supplement	https://mgaleg.maryland.gov/2016RS/fnotes/bil_0001/sb0841.pdf