Income Tax – Corporate Returns – Disclosure of Settlement Payments to Governmental Units

Bill Number:  HB0449

Bill Sponsor(s):  Delegate Lafferty

Subject:  Ways and Means

Bill Summary:

Requiring certain corporations to attach to the Maryland income tax return a certain statement identifying certain settlement payments to governmental units under certain circumstances; requiring that certain statements be treated as confidential taxpayer information; requiring the Comptroller to collect and compile certain information and to submit, on or before March 1 each year, a certain annual report to the Governor and the General Assembly; and applying the Act to taxable years beginning after December 31, 2018.

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