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2014 SESSION
HB 442 Income tax, corporate; market-based sourcing.
Introduced by: Glenn R. Davis | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Corporate income tax; market-based sourcing. Changes the way the sales factor is determined, for purposes of the corporate income tax, so that it will be market-based sourcing rather than costs of performance, which is the current method used. The provisions of the bill would become effective beginning on January 1 of the year following the calendar year in which the Department of Taxation publishes guidelines to implement market-based sourcing, but in no event later than January 1, 2016.
FULL TEXT
HISTORY
- 01/05/14 House: Prefiled and ordered printed; offered 01/08/14 14102326D
- 01/05/14 House: Referred to Committee on Finance
- 01/22/14 House: Assigned Finance sub: Subcommittee #3
- 01/24/14 House: Subcommittee recommends laying on the table by voice vote
- 02/12/14 House: Left in Finance