SB 135 - Moon, Mike
Phases out the corporate income tax
Bill Details
Sponsor
LR Number
0458S.01I
Title
SB 135
House Handler
N/A
Journal Page
N/A
Effective Date
August 28, 2023
Committee
Current Status
Bill Combined w/(SCS/SBs 93 & 135) (0712S.02C)
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 135 - This act phases out the corporate income tax over a period of years beginning with the 2024 tax year. Each annual reduction in the tax rate shall be by 0.8%, and beginning with the 2028 tax year there shall be no income tax on corporate income.
This act is similar to SB 9 (2022 First Extraordinary Session), SB 701 (2022), SB 393 (2021), and HB 2239 (2020), and to a provision in SB 18 (2022 First Extraordinary Session).
JOSH NORBERG