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2009 SESSION

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HB 2437 Income tax, corporate; apportionment for manufacturers.

Introduced by: Kathy J. Byron | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Corporate income tax; apportionment for manufacturers.  Allows manufacturers to elect an apportionment formula of multiplying their income by the sales factor or using the formula prescribed for other businesses, whether the manufacturers have a sales factor or not.  The provisions of the bill would be effective beginning July 1, 2011, and would be phased in with the apportionment formula having a 100 percent sales factor by 2014.  For certain manufacturers, the election of a single sales factor is conditioned upon employment levels.


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