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2012 SESSION
HB 460 Income tax, corporate; basis by which TAX shall assess manufacturing companies with additional tax.
Introduced by: Kathy J. Byron | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Corporate income tax; single sales factor apportionment for income of manufacturers. Repeals the penalties that would have been assessed on any manufacturer that elected the single sales factor apportionment for income and that did not maintain certain employment levels. The bill also would only require a manufacturer that elected the single sales factor apportionment to pay additional taxes and interest if its average annual employment falls below 90 percent of the base year employment, or if the average wage of its employees is less than the state or local average weekly wage.
FULL TEXT
- 01/10/12 House: Prefiled and ordered printed; offered 01/11/12 12102883D pdf | impact statement
- 02/28/12 Senate: Committee substitute printed 12105707D-S1 pdf
- 03/08/12 House: Bill text as passed House and Senate (HB460ER) pdf | impact statement
- 03/30/12 Governor: Acts of Assembly Chapter text (CHAP0427) pdf
HISTORY
- 01/10/12 House: Prefiled and ordered printed; offered 01/11/12 12102883D
- 01/10/12 House: Referred to Committee on Finance
- 01/20/12 House: Assigned Finance sub: #2
- 02/06/12 House: Reported from Finance (22-Y 0-N)
- 02/07/12 House: Read first time
- 02/08/12 House: Read second time and engrossed
- 02/09/12 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 02/09/12 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/10/12 Senate: Constitutional reading dispensed
- 02/10/12 Senate: Referred to Committee on Finance
- 02/28/12 Senate: Reported from Finance with substitute (15-Y 0-N)
- 02/28/12 Senate: Committee substitute printed 12105707D-S1
- 02/29/12 Senate: Constitutional reading dispensed (40-Y 0-N)
- 03/01/12 Senate: Read third time
- 03/01/12 Senate: Reading of substitute waived
- 03/01/12 Senate: Committee substitute agreed to 12105707D-S1
- 03/01/12 Senate: Engrossed by Senate - committee substitute HB460S1
- 03/01/12 Senate: Passed Senate with substitute (40-Y 0-N)
- 03/01/12 Senate: Reconsideration of Senate passage agreed to by Senate (39-Y 0-N)
- 03/01/12 Senate: Passed Senate with substitute (40-Y 0-N)
- 03/02/12 House: Placed on Calendar
- 03/05/12 House: Senate substitute agreed to by House 12105707D-S1 (98-Y 0-N)
- 03/05/12 House: VOTE: ADOPTION (98-Y 0-N)
- 03/08/12 House: Enrolled
- 03/08/12 House: Bill text as passed House and Senate (HB460ER)
- 03/08/12 House: Signed by Speaker
- 03/09/12 Senate: Signed by President
- 03/30/12 Governor: Approved by Governor-Chapter 427 (effective 7/1/12)
- 03/30/12 Governor: Acts of Assembly Chapter text (CHAP0427)