Bill
Bill > HB1282
summary
Introduced
02/09/2024
02/09/2024
In Committee
02/09/2024
02/09/2024
Crossed Over
Passed
Dead
04/08/2024
04/08/2024
Introduced Session
2024 Regular Session
Bill Summary
Decreasing, over 5 taxable years, the State corporate income tax rate from 8.25% to 6.25%.
AI Summary
This bill decreases the State corporate income tax rate in Maryland from 8.25% to 6.25% over a period of 5 taxable years, starting with a rate of 8.25% for the 2024 tax year and gradually reducing it by 0.5 percentage points each year until it reaches 6.25% for the 2028 tax year and beyond. The purpose of this bill is to enhance the economic competitiveness of Maryland by lowering the corporate tax burden.
Committee Categories
Budget and Finance
Sponsors (14)
Wayne Hartman (R)*,
Steve Arentz (R),
Jason Buckel (R),
Brian Chisholm (R),
April Fleming Miller (R),
Robin Grammer (R),
Mike Griffith (R),
Kevin Hornberger (R),
Jay Jacobs (R),
Nino Mangione (R),
Susan McComas (R),
Todd Morgan (R),
April Rose (R),
Chris Tomlinson (R),
Last Action
House Ways and Means Hearing (13:00:00 2/29/2024 ) (on 02/29/2024)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1282?ys=2024RS |
| BillText | https://mgaleg.maryland.gov/2024RS/bills/hb/hb1282f.pdf |
Loading...