Effective Corporate Tax Rate Transparency Act of 2019

Bill Number:  SB0480

Bill Sponsor(s):  Senator McCray

Subject:  Budget and Taxation

Bill Summary:

Requiring a publicly traded corporation that is required to file a Maryland income tax return to attach a certain statement to the return identifying the corporation’s effective tax rate and an explanation of the calculation of the effective tax rate; requiring that the statement be made under oath, signed in a certain manner, subject to audit by the Comptroller, and treated as confidential taxpayer information; requiring the Comptroller to submit a certain report to the Governor and the General Assembly by March 1 each year; etc.

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