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2009 SESSION
HB 2437 Income tax, corporate; apportionment for manufacturers.
Introduced by: Kathy J. Byron | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
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.
SUMMARY AS INTRODUCED:
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, 2010, and would be phased in with the apportionment formula having a 100 percent sales factor by 2013.