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2014 SESSION

• | print version

HB 453 Income tax, corporate; exemption, filing.

Introduced by: James M. LeMunyon | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Corporate income taxes. Establishes beginning with the 2015 taxable year a $25,000 taxable income threshold for corporate income tax liability and increases from $1,000 to $1,500 the minimum amount of income tax a corporation expects to pay to require the corporation to make estimated payments of income tax. The bill also provides that a corporation exempt from income tax would still be required to file a corporate income tax return if the corporation's gross revenues for the taxable year exceeded $500,000. The $25,000 taxable income threshold and the $1,500 of minimum expected income tax would be adjusted annually for inflation beginning with taxable year 2016.

FULL TEXT

• 01/06/14  House: Prefiled and ordered printed; offered 01/08/14 14103445D  pdf | impact statement

HISTORY

• 01/06/14  House: Prefiled and ordered printed; offered 01/08/14 14103445D
• 01/06/14  House: Referred to Committee on Finance
• 01/22/14  House: Assigned Finance sub: Subcommittee #3
• 01/24/14  House: Subcommittee recommends continuing to 2015 by voice vote
• 01/27/14  House: Continued to 2015 in Finance by voice vote