Income Tax – Capital Gains, Dividends, and Foreign–Derived Intangible Income – Alterations (Investing in Marylanders Act of 2023)
What this bill does
Providing for an additional State individual income tax rate on the net capital gains of individuals; providing addition modifications under the Maryland income tax for certain deductions for foreign income under the Internal Revenue Code; altering a certain addition modification for certain corporate interest expenses and intangible expenses; altering a certain subtraction modification for certain dividends from a foreign corporation to preclude inclusion of certain income treated as dividends under the Internal Revenue Code; 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.
Testimony (14)
MGA witness list| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Mazerov, Michael | Center on Budget and Policy Priorities | Oral + Written (PDF) |
| FAV | Progressive Caucus, Lower Shore | Lower Shore Progressive Caucus | Position only |
| FAV | Schumitz, Kalilobbyist | Maryland Center on Economic Policy | Oral + Written (PDF) |
| FAV | Slayton, Kevin | Maryland Fair Funding Coalition | Written (PDF) |
| FAV | Plante, Cecilia | Maryland Legislative Coalition | Written (PDF) |
| FAV | Jervey, Trap | Maryland Rise | Written (PDF) |
| FAV | Long, Maddielobbyist | Strong Schools Maryland | Oral + Written (PDF) |
| FAV | Delegate Palakovich Carr, Delegate Palakovich Carrlegislator | Individual | Oral |
| FAV | Palakovich Carr, Julie | Individual | Written (PDF) |
| UNF | Heavey, Leonore | Council on State Taxation | Written (PDF) |
| UNF | Hawkins, Giavante | MSATP | Written (PDF) |
| UNF | Halpern, MB | Maryland Association of CPAs (MACPA) | Written (PDF) |
| UNF | Griffin, Andrewlobbyist | Maryland Chamber of Commerce | Written (PDF) |
| INFO | Gorman, Debora | Individual | Written (PDF) |