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SB 0323 - Income Tax - Rate Increase and Personal Exemption Reduction
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Tracking Level: No Position
Sponsor: Senator Manno
Last Action: 2/6/2012 - S Unfavorable Report by Budget and Taxation Withdrawn
Senate Committee: Senate Committee on Budget and Taxation
Assigned To:
AndreaNext Bill
Taxes and RevenuesNext Bill

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 323
2012 Regular Session

SENATE BILL 323

File Code: Taxes - Income
Sponsored By:
Senator Manno
Entitled:
Income Tax - Rate Increase and Personal Exemption Reduction

Synopsis:

Increasing the State income tax rate by 0.25% on individual income; reducing the amount allowed as a deduction for specified personal exemptions under the Maryland income tax; increasing the amount that must be withheld from specified payments; requiring the Comptroller to waive interest and penalties for the 2012 calendar year to the extent the interest and penalties are due to the tax rate increase; making the Act contingent on the taking effect of another Act; and applying the Act to taxable years after December 31, 2011.

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
1/27
First Reading Budget and Taxation
2/6
Unfavorable Report by Budget and Taxation Withdrawn
House Action
No Action

Bill indexed under the following Subjects:

Comptroller
Exemptions
Income Tax
Interest
Penalties and Sentences -see also- Death Penalty
Retirement Systems -see also- Mandatory Retirement
State Employees

Bill affects the following Statutes:

Tax - General
( 10-105 , 10-211 , 10-908 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Not available at this time
Amendments: None offered