Maryland HB930 modifies state income tax to exclude certain education expenses from taxable income.
Maryland HB930 modifies the state income tax to exclude certain contributions and distributions related to education expenses from taxable income. Specifically, it excludes contributions to and distributions from certain investment accounts if they are not used for qualified higher education expenses. This bill also modifies the subtraction modification to exclude certain contributions to and distributions from certain investment plans that are used for elementary or secondary education expenses.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.