Income Tax – Subtraction Modification – Qualified Business Income

Bill Number:  SB0591

Bill Sponsor(s):  Senator Serafini

Subject:  Budget and Taxation

Bill Summary:

Providing a subtraction modification under the Maryland income tax for the amount of qualified business income of the individual deducted under the federal income tax; providing for the continuation of the subtraction modification if the provisions of ยง 199A of the Internal Revenue Code are repealed or terminate; applying the Act to taxable years beginning after December 31, 2018; etc.

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