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2023 SESSION
HB 1456 Income tax, state; pass-through entities.
Introduced by: Joseph P. McNamara | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Income tax; pass-through entities. Makes changes to the elective entity level tax on pass-through entities effective beginning with taxable year 2021. The bill would impose the tax only on the share of income, gain, loss, or deduction attributable to eligible owners as opposed to imposing the tax on the entire entity. The bill defines "eligible owner" as an owner of a pass-through entity that is a natural person, estate, or trust. The bill also removes the requirement that to qualify for the tax election a pass-through entity must be 100 percent owned by natural persons or persons eligible to be shareholders in an S corporation. This bill is identical to SB 1476.
FULL TEXT
- 12/22/22 House: Prefiled and ordered printed; offered 01/11/23 23102579D pdf | impact statement
- 01/25/23 House: Committee substitute printed 23103991D-H1 pdf | impact statement
- 02/14/23 House: Bill text as passed House and Senate (HB1456ER) pdf | impact statement
- 03/27/23 Governor: Acts of Assembly Chapter text (CHAP0686) pdf
AMENDMENTS
HISTORY
- 12/22/22 House: Prefiled and ordered printed; offered 01/11/23 23102579D
- 12/22/22 House: Referred to Committee on Finance
- 01/25/23 House: Reported from Finance with substitute (21-Y 1-N)
- 01/25/23 House: Committee substitute printed 23103991D-H1
- 01/27/23 House: Read first time
- 01/30/23 House: Read second time
- 01/30/23 House: Committee substitute agreed to 23103991D-H1
- 01/30/23 House: Engrossed by House - committee substitute HB1456H1
- 01/31/23 House: Read third time and passed House (98-Y 0-N)
- 01/31/23 House: VOTE: Passage (98-Y 0-N)
- 02/01/23 Senate: Constitutional reading dispensed
- 02/01/23 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 (HB1456ER)
- 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
- 03/27/23 Governor: Approved by Governor-Chapter 686 (effective 7/1/23)
- 03/27/23 Governor: Acts of Assembly Chapter text (CHAP0686)