Income Tax - Subtraction Modification - Retirement Income
Sponsor: Karen Lewis Young (District 3)Committee: Budget and TaxationSubject: Taxes - IncomeStatus: Unfavorable Report by Budget and Taxation (as of Sep 19, 2019)
What this bill does
Official synopsis
Including income from certain retirement plans within a certain subtraction modification allowed under the Maryland income tax for certain individuals; altering the calculation of the subtraction modification; increasing the maximum amount of the subtraction modification allowed for certain taxable years; and prohibiting an individual from qualifying for the subtraction if the total income from all qualified retirement plans for the taxable year exceeds $100,000.
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Testimony (0)
MGA witness listNo witness list on file. It is scraped after hearings are scheduled; check the MGA link above.