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2010 SESSION

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SB 325 Income tax, corporate; lower rate for certain businesses.

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

SUMMARY AS INTRODUCED:

Corporate income tax; lower rate for certain businesses.  Reduces the corporate income tax rate from six percent to three percent for the first three years after a business establishes a new office or operation or expands an existing office or operation in an area that is not designated by the U.S. Environmental Protection Agency as a nonattainment area under the Clear Air Act, for taxable years beginning on or after January 1, 2010. The capital investment must be $250,000 or more and the tax reduction may not exceed that amount of the capital investment made by the corporation.


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