Income Tax - Subtraction Modification - Retirement Income
Sponsor: Robin L. Grammer, Jr. (District 6)Committee: Ways and MeansSubject: Taxes - IncomeStatus: Hearing 1/14 at 1:30 p.m. (as of Dec 1, 2021)
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 who are at least 65 years of age or who are disabled or whose spouse is disabled; altering the maximum amount of the subtraction modification beginning in taxable year 2021; providing that income included in certain subtraction modifications may not be taken into account for purposes of the subtraction modification for retirement income; etc.
AI analysis is off. Set ANTHROPIC_API_KEY to enable summaries, pros and cons, and questions.
Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.
Testimony (1)
MGA witness listFAV 1Favorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Delegate Grammer, Delegate Grammerlegislator | Individual | Position only |