SB 0678 Modifies corporate income tax apportionment and the tax rate
Sponsor:Vogel Co-Sponsor(s)
LR Number:1968S.01I Fiscal Note:1968-01
Committee:Ways and Means
Last Action:03/17/03 - Second Read and Referred S Ways and Means Committee Journal page:S536
Effective Date:August 28, 2003
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Current Bill Summary

SB 678 - This act repeals the single factor apportionment method for multistate corporate income. The act also reduces the corporate income tax rate by 1% from 6.25% to 5.25% for all tax years beginning on or after 1/1/2003.