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SB 0269 - Maryland Business Tax Fairness Act
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Tracking Level: No Position
Sponsor: Senator Paul G. Pinsky, District 22
Last Action: 3/19/2012 - S Unfavorable Report by Budget and Taxation
Senate Committee: Senate Committee on Budget and Taxation
Assigned To:
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Staff Analysis of the Legislation


Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text
BILL INFO-2012 Regular Session-SB 269
2012 Regular Session

SENATE BILL 269

File Code: Taxes - Income Prior Year Introduction As: SB 305/11 - B&T
Sponsored By:
Senators Pinsky, Benson, Conway, Currie, Ferguson, Frosh, Jones-Rodwell, Kelley, Madaleno, Manno, Montgomery, Ramirez, Raskin, Rosapepe, Stone, and Young
Entitled:
Maryland Business Tax Fairness Act

Synopsis:

Requiring specified corporations to compute Maryland taxable income using a specified combined reporting method; requiring, subject to specified regulations, specified groups of corporations to file a combined income tax return reflecting the aggregate income tax liability of all the members of the group; requiring the Comptroller to adopt specified regulations; requiring specified regulations to be consistent with regulations adopted by the Multistate Tax Commission; applying the Act to tax years beginning after 2012; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
Senate Action
1/25
First Reading Budget and Taxation
2/1
Hearing 2/22 at 1:00 p.m.
3/19
Unfavorable Report by Budget and Taxation
House Action
No Action

Sponsored by:

Senator Paul G. Pinsky, District 22
Senator Joanne C. Benson, District 24
Senator Joan Carter Conway, District 43
Senator Ulysses Currie, District 25
Senator Bill Ferguson, District 46
Senator Brian E. Frosh, District 16
Senator Verna L. Jones-Rodwell, District 44
Senator Delores G. Kelley, District 10
Senator Richard S. Madaleno, Jr., District 18
Senator Roger P. Manno, District 19
Senator Karen S. Montgomery, District 14
Senator Victor R. Ramirez, District 47
Senator Jamie Raskin, District 20
Senator Jim Rosapepe, District 21
Senator Norman R. Stone, Jr., District 6
Senator Ronald N. Young, District 3

Bill indexed under the following Subjects:

Comptroller
Corporations -see also- Municipal Corps; Public Corps & Inst
Income Tax
Rules and Regulations

Bill affects the following Statutes:

Tax - General
( 10-402.1 , 10-811 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Available
Amendments: None offered
Committee Votes :
Senate
Budget and Taxation