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WILLIAM DONALD SCHAEFER, Governor
Ch. 110
(ii) may not exceed $2,000[;].
10-221.
(A) Unless expressly provided otherwise by law, an
amendment of the Internal Revenue Code that, during the taxable
year in which the amendment is enacted, eliminates or reduces a
deduction or substitutes a credit for a deduction does not affect
the deduction for purposes of this title during that year.
(B) WITHIN 60 DAYS AFTER AN AMENDMENT OF THE INTERNAL
REVENUE CODE IS ENACTED, THE COMPTROLLER SHALL PREPARE AND SUBMIT
TO THE GOVERNOR, THE PRESIDENT OF THE SENATE, AND THE SPEAKER OF
THE HOUSE A REPORT THAT OUTLINES:
(1) THE CHANGES IN THE INTERNAL REVENUE CODE; AND
(2) THE IMPACT OF THOSE CHANGES ON STATE REVENUE AND
ON VARIOUS CLASSES AND TYPES OF TAXPAYERS.
10-307.
[(c) If 50% or more of the net taxable income of an
affiliated domestic international sales corporation, as defined
under § 992(a) of the Internal Revenue Code, is subject to
taxation by the State, the THE subtraction under subsection (a)
of this section includes the percentage of the dividends received
from the AN AFFILIATED DOMESTIC INTERNATIONAL SALES corporation
equal to the percentage that would be excluded if the corporation
did not qualify under § 992(a) of the Internal Revenue Code.--}-
10-702.
(a) (3) "Enterprise zone" means an area designated under
Article 41A, § [5-302] 12-302 of the Code.
(b) Except as provided in subsection (g) of this section,
any business entity that is located in an enterprise zone and
satisfies the requirements of Article 41A, § [5-304] 12-304 of
the Code may claim a credit only against the State income tax for
the wages specified in subsections (c) and (d) of this section
that are paid in the taxable year for which the entity claims the
credit.
(c) For the taxable year in which a business entity
satisfies the requirements of Article 41A, § [5-304] 12-304 of
the Code, a credit is allowed that equals:
(1) up to $1,500 of the wages paid to each qualified
employee who:
(i) is an economically disadvantaged
individual;
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