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2023 SESSION
HB 1405 Income tax, corporate; returns, affiliated corporations.
Introduced by: Joseph P. McNamara | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Corporate income tax returns; filing method for affiliated corporations. Removes the requirement that, in order for a group of affiliated corporations to be granted permission from the Tax Commissioner to change their filing status for corporate income tax purposes, for the previous tax year there would have been no decrease in tax liability computed under the proposed election as compared to the affiliated group's former filing method. The bill retains the current requirement that the affiliated group agree to file returns under both the new filing method and the former method and pay the greater of the two amounts for the taxable year in which the new election is effective and for the immediately succeeding taxable year. This bill is identical to SB 796.
FULL TEXT
- 12/02/22 House: Prefiled and ordered printed; offered 01/11/23 23100947D pdf | impact statement
- 02/14/23 House: Bill text as passed House and Senate (HB1405ER) pdf | impact statement
- 03/26/23 Governor: Acts of Assembly Chapter text (CHAP0520) pdf
HISTORY
- 12/02/22 House: Prefiled and ordered printed; offered 01/11/23 23100947D
- 12/02/22 House: Referred to Committee on Finance
- 01/13/23 House: Assigned Finance sub: Subcommittee #1
- 01/16/23 House: Subcommittee recommends reporting (8-Y 0-N)
- 01/18/23 House: Reported from Finance (21-Y 0-N)
- 01/20/23 House: Read first time
- 01/23/23 House: Read second time and engrossed
- 01/24/23 House: Read third time and passed House BLOCK VOTE (100-Y 0-N)
- 01/24/23 House: VOTE: Block Vote Passage (100-Y 0-N)
- 01/25/23 Senate: Constitutional reading dispensed
- 01/25/23 Senate: Referred to Committee on Finance and Appropriations
- 02/08/23 Senate: Reported from Finance and Appropriations (14-Y 0-N)
- 02/09/23 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/10/23 Senate: Read third time
- 02/10/23 Senate: Passed Senate (39-Y 0-N)
- 02/14/23 House: Enrolled
- 02/14/23 House: Bill text as passed House and Senate (HB1405ER)
- 02/14/23 House: Signed by Speaker
- 02/14/23 Senate: Signed by President
- 02/27/23 House: Enrolled Bill communicated to Governor on February 27, 2023
- 02/27/23 Governor: Governor's Action Deadline 11:59 p.m., March 27, 2023
- 03/26/23 Governor: Approved by Governor-Chapter 520 (effective 7/1/23)
- 03/26/23 Governor: Acts of Assembly Chapter text (CHAP0520)