SB 393
Eliminates the corporate income tax
Sponsor:
LR Number:
0586S.01I
Committee:
Ways and Means
Last Action:
4/15/2021 - Voted Do Pass S Ways and Means Committee
Journal Page:
Title:
Calendar Position:
Effective Date:
August 28, 2021

Current Bill Summary

SB 393 - This act phases out the corporate income tax over a period of two years. For the tax year beginning on or after January 1, 2022, and ending on or before December 31, 2022, the rate of tax on corporate income shall be reduced from 4% to 2%. For all tax years beginning on or after January 1, 2023, there shall be no tax on corporate income.

This act is identical to HB 2239 (2020).

JOSH NORBERG

Amendments

No Amendments Found.