SB 701 – Eliminates the corporate income tax

• Sponsor: Moon
• LR Number: 3876S.01I
• Committee: Ways and Means
• Last Action: 1/27/2022 - Voted Do Pass S Ways and Means Committee
• Effective Date: August 28, 2022

Current Bill Summary

SB 701 - Current law imposes a tax of 4% on corporate income. For all tax years beginning on or after January 1, 2023, this act provides that there shall be no tax on corporate income.

This act is substantially similar to SB 393 (2021) and HB 2239 (2020).

JOSH NORBERG

Amendments

No Amendments Found.