Income Tax - Subtraction Modification - Retirement Income
Sponsor: Delegate BrooksCommittee: Ways and MeansSubject: Taxes - IncomeStatus: Hearing 2/20 at 1:00 p.m. (as of Nov 6, 2020)
What this bill does
Official synopsis
Including income from an individual retirement account or a certain annuity within a certain subtraction modification for certain retirement income if contributions to the individual retirement account or annuity consist entirely of the tax-free rollover of distributions from an employee retirement system; repealing a certain obsolete provision relating to a certain retirement plan; and applying the Act to all taxable years beginning after December 31, 2019.
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Testimony (4)
MGA witness listFAV 3FavorableUNF 1Unfavorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | BOSTON, FRANK | STATE FOO | Position only |
| FAV | Delegate Brooks, Delegate Brookslegislator | Individual | Oral + Written (PDF) |
| FAV | Phillips, N Scott | Individual | Position only |
| UNF | Kinnally, Kevin | MACo | Written (PDF) |