- Title
- Income Tax - Subtraction Modification - Employee-Owned Businesses
- Sponsored by
- Senators Feldman, Jennings, Corderman, Edwards, Elfreth, Ferguson, Hayes, Jackson, King, Klausmeier, Pinsky, Ready, Rosapepe, Simonaire, Guzzone, and Salling
- Status
- In the House - First Reading Ways and Means
- Analysis
- Fiscal and Policy Note
Synopsis
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, 2021; etc.
Committees
- Opposite:
- Ways and Means
Committee Testimony
Details
History
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Last Updated: 3/28/2022 9:24 AM