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2016 SESSION

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SB 670 Bank franchise tax; sets a cap of $18 million on total annual tax liability per taxpayer.

Introduced by: Ryan T. McDougle | all patrons    ...    notes | add to my profiles

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)

Bank franchise tax. Sets a cap of $18 million on the total annual bank franchise tax liability per taxpayer. The cap will increase to $20 million if at least five taxpayers pay the $18 million cap for three consecutive years. After two years at $20 million, the cap shall increase by three percent annually.  This bill is identical to HB 1224. 


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