2022 Regular Session • Maryland Legislature
HB841: Income Tax - Expensing of Business Property - Recoupling With Federal Law (Maryland Manufacturing Tax Relief Act of 2022)
Legislative Summary
Repealing Maryland income tax modifications for certain deductions for the cost of business property that is treated as an expense for federal income tax purposes; and applying the Act to all taxable years beginning after December 31, 2021.
Demographic Impact
Overall analysis of equity impact
70% Positive
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Bill History
2/7/2022
First Reading Ways and Means
House of Delegates
2/8/2022
Hearing 2/23 at 1:00 p.m.
House of Delegates
Status Information
Current Status
Introduced(2/7/2022)
Chamber
House of Delegates
Committee
Ways and Means(House of Delegates)
Sine Die
Sponsors
Democrat: 3
Republican: 2
Primary Sponsor
Lily Qi
Democrat