Corporate Income Tax – Combined Reporting and Subtraction Modification for Combined Groups of Corporations
What this bill does
Requiring affiliated corporations to compute Maryland taxable income using a certain combined reporting method; authorizing certain corporations, subject to regulations adopted by the Comptroller, to determine certain income using the water's edge method; requiring, subject to regulations adopted by the Comptroller, certain groups of corporations to file a combined income tax return reflecting the aggregate income tax liability of all the members of the group; requiring the Comptroller to adopt certain regulations; etc.
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.