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2023 SESSION
SB 796 Income tax, corporate; returns, affiliated corporations.
Introduced by: Scott A. Surovell | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
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 HB 1405.
FULL TEXT
- 12/01/22 Senate: Prefiled and ordered printed; offered 01/11/23 23100722D pdf | impact statement
- 02/15/23 Senate: Bill text as passed Senate and House (SB796ER) pdf | impact statement
- 03/26/23 Governor: Acts of Assembly Chapter text (CHAP0521) pdf
HISTORY
- 12/01/22 Senate: Prefiled and ordered printed; offered 01/11/23 23100722D
- 12/01/22 Senate: Referred to Committee on Finance and Appropriations
- 02/01/23 Senate: Reported from Finance and Appropriations (16-Y 0-N)
- 02/02/23 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/03/23 Senate: Read second time and engrossed
- 02/03/23 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/03/23 Senate: Passed Senate (38-Y 0-N)
- 02/07/23 House: Placed on Calendar
- 02/07/23 House: Read first time
- 02/07/23 House: Referred to Committee on Finance
- 02/08/23 House: Reported from Finance (21-Y 0-N)
- 02/10/23 House: Read second time
- 02/13/23 House: Read third time
- 02/13/23 House: Passed House BLOCK VOTE (99-Y 0-N)
- 02/13/23 House: VOTE: Block Vote Passage (99-Y 0-N)
- 02/15/23 Senate: Enrolled
- 02/15/23 Senate: Bill text as passed Senate and House (SB796ER)
- 02/15/23 House: Signed by Speaker
- 02/16/23 Senate: Signed by President
- 02/27/23 Senate: 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 521 (effective 7/1/23)
- 03/26/23 Governor: Acts of Assembly Chapter text (CHAP0521)