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2011 SESSION

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SB 1408 Business, professional, occupational license tax; exemption for unprofitable business.

Introduced by: Frank M. Ruff, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Business, professional, occupational license tax; exemption for unprofitable business.  Allows localities to exempt from the BPOL tax businesses that lose money and are unprofitable during the taxable year, for taxable years beginning on or after January 1, 2012.  The business is required to submit its income tax return as proof to the local commissioner of revenue.

SUMMARY AS PASSED SENATE:

Business, professional, occupational license tax; exemption for unprofitable business.  Allows localities to exempt from the BPOL tax businesses that lose money and are unprofitable during the taxable year, for taxable years beginning on or after January 1, 2012.

SUMMARY AS INTRODUCED:

Business, professional, occupational license tax; exemption for unprofitable business.  Exempts from the BPOL tax businesses that lose money and are unprofitable during the taxable year, for taxable years beginning on or after January 1, 2012.