2002 Regular Session


File Code: Taxes - Income Prior Year Introduction As: SB 6/99 - B&T
Sponsored By:
Senators Haines, Ferguson, Hafer, Harris, Hooper, Jacobs, Kittleman, Roesser, and Schrader
Income Tax - Capital Gains


Allowing a subtraction modification for Maryland individual and corporate income tax purposes for 50% of the first $50,000 of net capital gain, as defined and determined under the Internal Revenue Code, subject to reduction for any amounts excluded for federal income tax purposes; including the amount of the subtracted capital gain income in items of tax preference for purposes of the individual income tax; applying the Act to taxable years beginning after 2001.

History by Legislative Date

Senate Action
First Reading Budget and Taxation
Hearing 2/6 at 1:30 p.m.
Unfavorable Report by Budget and Taxation
House Action
No Action
Sponsored by:
Senator Larry E. Haines, District 5
Senator Timothy R. Ferguson, District 4
Senator John J. Hafer, District 1
Senator Andrew P. Harris, District 9
Senator J. Robert Hooper, District 35
Senator Nancy Jacobs, District 34
Senator Robert H. Kittleman, Senator, District 14
Senator Jean W. Roesser, District 15
Senator Sandra Schrader, District 13
Bill indexed under the following Subjects:
Bill affects the following Statutes:
Tax - General
( 10-207 , 10-222 , 10-307 )


Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered