SB 696 - Hoskins, Denny
Modifies provisions relating to the taxation of pass-through entities
Bill Details
Sponsor
LR Number
2700S.01I
Title
SB 696
House Handler
N/A
Journal Page
Effective Date
August 28, 2023
Committee
Current Status
Second Read and Referred S Economic Development and Tax Policy Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 696 - 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.
JOSH NORBERG