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2009 SESSION

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SB 978 Income taxes, state; recognition of income from dealer disposition of property under installment.

Introduced by: Richard H. Stuart | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income taxes; recognition of income from dealer dispositions of property.  Allows the income from dealer dispositions of property made on or after January 1, 2009, to be recognized under the installment method at the election of the taxpayer, provided that (i) the election relating to the dealer disposition of the property has been made on or before the due date prescribed by law for filing the taxpayer's income tax return, and (ii) the dealer disposition is in accordance with restrictions and conditions established by the Department.


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