Income Tax – Subtraction Modification – Military Retirement Income

Bill Number:  HB0362

Bill Sponsor(s):  Speaker

Subject:  Ways and Means

Bill Summary:

Allowing a subtraction modification under the State income tax for income from a qualified transfer of stock or membership interest of a Maryland corporation or limited liability company to certain employee ownership entities; limiting the amount of the subtraction if the transfer is to a direct share ownership plan; applying the Act to taxable years beginning after December 31, 2017; etc.

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