Income Tax - Subtraction Modification - Retirement Income
Sponsor: Delegate BrooksCommittee: Ways and MeansSubject: Taxes - IncomeStatus: Hearing 2/16 at 1:00 p.m. (as of Nov 15, 2022)
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; and applying the Act to all taxable years beginning after December 31, 2021.
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Testimony (7)
MGA witness listFAV 6FavorableUNF 1Unfavorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Brooks Jr., Benjamin | B&R Brooks | Oral + Written (PDF) |
| FAV | Goldberg, Robert | NARFE Maryland | Oral + Written (PDF) |
| FAV | Phillips, N Scott | Phillips Consulting | Oral + Written (PDF) |
| FAV | Brooks, Benjamin | Individual | Written (PDF) |
| FAV | Delegate Brooks, Delegate Brookslegislator | Individual | Oral |
| FAV | Wise, Steve | Individual | Position only |
| UNF | Kinnally, Kevin | Maryland Association of Counties (MACo) | Written (PDF) |