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2014 SESSION
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
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