General Bill
Tax Credits:
Revises priority of tax credits that may be taken against corporate income tax or franchise tax; authorizes aerospace-sector jobs tax credits & tuition reimbursement tax credits; authorizes tax credit to aerospace businesses based on salary or tuition reimbursed to specified employees; specifies maximum annual amount of tax credits for aerospace business; limits annual amount of tax credits available; prohibits business from claiming aerospace-sector jobs tax credit & tuition reimbursement tax credit for same employee; provides for DOR to approve applications for tax credits; prohibits increases in amount of unused tax credits carried over in amended tax returns; provides fines & criminal penalties for unlawful claims of tax credits; provides for expiration of tax credit program.
Effective Date:
January 1, 2011, and applies to tax years beginning on or after that date
Last Event:
Died in Finance & Tax Council on Friday, April 30, 2010 6:59 PM
Bill #
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Subject
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Relationship
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Bill #:
CS/SB 2572
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Subject:
Tax Credits [CPSC]
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Relationship:
Similar
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