Income Tax - Credit for Income Taxes and Penalties Due to Financial Exploitation
Withdrawn by Sponsor (House)
Summary
The bill lets Maryland taxpayers who were forced to take an early retirement withdrawal because of financial exploitation claim a credit against their state income tax. The credit equals the smaller of the state tax on that withdrawal or the federal penalty paid. It requires proof of the exploitation and cannot be carried over to future years.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
Ask about HB 323
3 free questions a day, no accountHearings
- Ways and Means — Bill HearingWays and Means · Feb 5, 2026
History
- Withdrawn by Sponsor
- Hearing 2/05 at 1:00 p.m.
- First Reading Ways and Means
Sponsors
- Stewart · sponsor
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