MD HB661 | 2021 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 22 2021 - 25% progression, died in chamber
Action: 2021-02-15 - Withdrawn by Sponsor
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 22 2021 - 25% progression, died in chamber
Action: 2021-02-15 - Withdrawn by Sponsor
Text: Latest bill text (Introduced) [PDF]
Summary
Repealing Maryland income tax modifications for specified deductions for the cost of business property that is treated as an expense for federal income tax purposes; repealing Maryland income tax modifications for a specified additional depreciation allowance under the federal income tax for specified business property; and applying the Act to all taxable years beginning after December 31, 2020.
Title
Income Tax - Expensing of Business Property and Bonus Depreciation - Recoupling With Federal Law
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2021-02-15 | House | Withdrawn by Sponsor |
| 2021-02-11 | House | Hearing canceled |
| 2021-01-26 | House | Hearing 2/11 at 1:30 p.m. |
| 2021-01-22 | House | First Reading Ways and Means |
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 210.1 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0661?ys=2021RS |
| Text | https://mgaleg.maryland.gov/2021RS/bills/hb/hb0661f.pdf |
