SB 1131
Modifies provisions relating to the taxation of pass-through entities
LR Number:
Last Action:
2/26/2024 - Hearing Cancelled S Economic Development and Tax Policy Committee
Journal Page:
Effective Date:
August 28, 2024

Current Bill Summary

SB 1131 - Current law provides for an alternative method for the taxation of the income of pass-through entities, and provides for a compensatory tax credit against income taxes due pursuant to other methods of taxation. This act applies such provisions to fiduciaries.

This act also allows a designated affected business entity representative to sign the form electing to be taxed pursuant to the alternative method of taxation.

This act is identical to SB 696 (2023) and to provisions in SB 1250 (2024) and SS/HB 1912 (2024).



No Amendments Found.