Income Tax - Subtraction Modification - Retirement Income
Sponsor: Senator KlausmeierCommittee: Budget and TaxationSubject: Taxes - IncomeStatus: Hearing 2/23 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 (3)
MGA witness listFAV 2FavorableUNF 1Unfavorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Fickus, Daniel | Fraternal Order of Police | Oral |
| FAV | Senator Klausmeier, Senator Klausmeierlegislator | Individual | Oral |
| UNF | Kinnally, Kevin | Maryland Association of Counties (MACo) | Written (PDF) |