|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2363
|
|
|
|
|
MARVIN MANDEL, Governor
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1977.
Approved May 17, 1977.
|
|
|
|
|
|
|
|
|
|
CHAPTER 512
(House Bill 1049)
AN ACT concerning
Income Tax - Taxing of Tax Preference Income
FOR the purpose of changing the State taxation of certain
items of tax preference income to make State
taxation conform to the federal taxation of this
kind of income; making the provisions of this Act
applicable to all taxable years after a certain
date; and making this Act an emergency measure.
BY repealing and reenacting, with amendments,
Article 81 — Revenue and Taxes
Section 280B
Annotated Code of Maryland
(1975 Replacement Volume and 1976 Supplement)
|
|
|
|
|
|
|
|
|
|
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 280B of Article 81 - Revenue and
Taxes, of the Annotated Code of Maryland (1975
Replacement Volume and 1976 Supplement) be and it is
hereby repealed and reenacted, with amendments, to read
as follows:
Article 81 — Revenue and Taxes
2803.
(a) For purposes of this subtitle, items of tax
preference are determined and defined in §§ 57 and 58 of
the Internal Revenue Code, as amended from time to time,
excluding the oil percentage depletion allowance as
claimed and allowed under § 613 of the Internal Revenue
Code, as amended from time to time, the sum total of
which is in excess of [$30,000 as specified and
apportioned under the provisions of §§ 57 and 58,
respectively,] THE AMOUNT SPECIFIED IN SECTION 56(E)
(a)(1) of the Internal Revenue Code, as amended from time
to time, AS MODIFIED AND APPORTIONED UNDER THE
PROVISIONS OF SECTION 58 OF THE INTERNAL REVENUE CODE, AS
AMENDED FROM TIME TO TIME.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
