SB 392 - Shields, Charles
Phases out the corporate income tax
Bill Details
Sponsor
LR Number
2014S.01I
Title
SB 392
House Handler
N/A
Journal Page
N/A
Effective Date
August 28, 2009
Committee
Current Status
Hearing Conducted S Ways and Means Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 392 - Under current law, taxable income of corporations is taxed annually at a rate of six and one-fourth percent. Beginning tax year 2011, this act gradually reduces the rate of tax on corporate income by twenty percent per year such that by tax year 2015, no tax will be imposed upon corporate income.
This act is similar to Senate Bill 367 (2009) and House Bill 178 (2009).
JASON ZAMKUS