Capital gains tax reduction proposedANNAPOLIS -- The...

MARYLAND/REGIONAL BRIEFS

January 28, 1994|By From Staff Reports

ANNAPOLIS — Capital gains tax reduction proposed

ANNAPOLIS -- The Senate Budget and Taxation Committee will hear testimony at 1 p.m. today on a bill sponsored by Sen. Larry E. Haines, R-Carroll-District 5, on lowering the state's capital gains tax.

Mr. Haines, a Westminster Realtor, is sponsoring Senate Bill 204, which would reduce the amount of capital gains taxed under Maryland law.

Currently, 100 percent of the profit from an investment is taxed. Only 50 percent would be taxed under the senator's proposal.

The change would stimulate the economy, he said.

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