Bill Summaries: S896 ELIMINATE PHASEOUT OF CORPORATE INCOME TAX.

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Bill S 896 (2021-2022)

Summary date: May 31 2022 - View Summary

Repeals Section 42.2 of SL 2021-180, which phased out the corporate income tax beginning in 2025 until it reached 0% in 2029.

Appropriates $50,000 from the General Fund to the Department of Revenue to notify corporate taxpayers of the change.

Business and Commerce, Corporation and Partnerships, Government, State Agencies, Department of Revenue, Tax

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