2007 Regular Session


File Code: Taxes - Income Prior Year Introduction As: SB 879/02
Sponsored By:
Senators Pinsky and Madaleno
Income Tax - Corporations - Denial of Deduction for Excessive Compensation of Officers and Directors


Providing an addition modification under the Maryland corporate income tax for the amount of salary, wages, or other compensation for personal services paid or incurred by a corporation to an officer or director of the corporation in excess of 30 times the annual salary, wages, or other compensation for personal services of the lowest paid full-time employee; and applying the Act to taxable years beginning after December 31, 2006.

History by Legislative and Calendar Date

Senate Action
First Reading Budget and Taxation
Hearing 2/28 at 1:00 p.m.
House Action
No Action

Sponsored by:

Senator Paul G. Pinsky, District 22
Senator Richard S. Madaleno, Jr., District 18

Bill indexed under the following Subjects:

Corporations -see also- Municipal Corps; Public Corps & Inst
Income Tax
Salaries -see also- Overtime; Reimbursement Rates

Bill affects the following Statutes:

Tax - General
( 10-305 , 10-305 )


Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments: None offered