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2019 Regular Session
Overview
At the request of:
Chief Sponsors:
Regular Sponsors:
Bill Title: Relating to taxation; prescribing an effective date; providing for revenue raising that requires approval by a three-fifths majority.
Catchline/Summary: Increases corporate minimum tax.
Increases rates of corporate excise tax to match personal income tax rates. Repeals provisions allowing personal income taxpayers to elect reduced rate on pass-through nonpassive income or income as sole proprietor. Applies to tax years beginning on or after January 1, 2020. Takes effect on 91st day following adjournment sine die.
Chapter Number:
Fiscal Impact: May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact: May Have Revenue Impact, But No Statement Yet Issued
Measure Analysis: Staff Measure Summary / Impact Statements
Current Location: In House Committee
Current Committee: House Committee On Revenue
Current Subcommittee:
Subsequent Referral(s):
Potential Conflicts of Interest/Vote Explanations: Potential Conflicts of Interest/Vote Explanation Documents
Measure History
Scheduled Events