Maryland HB1080 modifies income tax to exclude certain gains and deductions.
Maryland HB1080 amends the state income tax to exclude capital gains from investments in qualified opportunity zones, foreign-derived deduction eligible income, and interest on loans securing rural property. These exclusions align with federal tax code amendments, ensuring consistency between state and federal tax laws. The bill also specifies that these exclusions apply to all taxable years beginning after December 31, 2025.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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