Corporate Income Tax – Single Sales Factor Apportionment – Deferred Tax Relief

Bill Number:  SB0458

Bill Sponsor(s):  Senator Guzzone

Subject:  Budget and Taxation,Ways and Means

Bill Summary:

Providing a subtraction modification under the Maryland corporate income tax for certain changes to a certain corporation’s deferred tax assets or liabilities that are the result of Chapters 341 and 342 of the Acts of the General Assembly of 2018; providing for the calculation of the amount of the subtraction modification; providing that the subtraction modification may be claimed only for 10 consecutive taxable years beginning with the first taxable year that begins after December 31, 2022; etc.

Members read more about our positioning within our Members Only section.