MD SB409 | 2019 | Regular Session
Note: Carry Foward to future HB403
Note: Carry Foward to future SB561
Note: Carry Foward to future SB561
Status
Spectrum: Slight Partisan Bill (Democrat 10-5)
Status: Introduced on February 1 2019 - 25% progression, died in committee
Action: 2019-02-01 - Hearing 2/20 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 1 2019 - 25% progression, died in committee
Action: 2019-02-01 - Hearing 2/20 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allowing a subtraction modification under the State income tax for income from a qualified transfer of stock or membership interest of a Maryland corporation or limited liability company to certain employee ownership entities; limiting the amount of the subtraction if the transfer is to a direct share ownership plan; applying the Act to taxable years beginning after December 31, 2018; etc.
Title
Income Tax - Subtraction Modification - Employee-Owned Businesses
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2019-02-01 | Senate | Hearing 2/20 at 1:00 p.m. |
| 2019-02-01 | Senate | First Reading Budget and Taxation |
Same As/Similar To
SB409 (Carry Over) 2019-02-01 - Hearing 2/20 at 1:00 p.m.
SB409 (Carry Over) 2019-02-01 - Hearing 2/20 at 1:00 p.m.
SB409 (Carry Over) 2019-02-01 - Hearing 2/20 at 1:00 p.m.
Subjects
Business Trusts
Corporations
Exemptions
Income Tax
Limited Liability Companies
Taxes - Income
Work, Labor and Employment
Corporations
Exemptions
Income Tax
Limited Liability Companies
Taxes - Income
Work, Labor and Employment
