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HB 1223 (2011) -  Corporate Income Taxes

by Kriseman
Limits deductions of certain intangible expenses, licensing fees, & management fees paid by taxpayer to related entity; creates exceptions to limitations on deductions; requires adjustment of income of related entity; limits number of times certain items may be added or subtracted from taxable income; specifies information relating to transactions with related entities which must be contained in corporate income tax return; provides that failure of taxpayer to add certain amounts to taxpayer's income or to provide complete information in tax return is negligence for which penalty may be imposed; authorizes DOR to adopt rules; specifies applicability of act.
Effective Date: upon becoming a law, and applies to tax years ending on or after December 31, 2011
Last Event: Died in Finance & Tax Committee on Saturday, May 7, 2011 2:07 AM

Referred Committees and Committee Actions

Related Bills

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Finance & Tax Committee Time: 05/07/2011 - 2:07 AM Member: Committee: Finance & Tax Committee Version: __
Event: H Indefinitely postponed and withdrawn from consideration Time: 05/07/2011 - 12:01 AM Member: Committee: Version: __
Event: H Now in Finance & Tax Committee Time: 03/14/2011 - 11:28 AM Member: Committee: Finance & Tax Committee Version: __
Event: H Referred to Appropriations Committee Time: 03/14/2011 - 11:28 AM Member: Committee: Appropriations Committee Version: __
Event: H Referred to Rulemaking & Regulation Subcommittee Time: 03/14/2011 - 11:28 AM Member: Committee: Rulemaking & Regulation Subcommittee Version: __
Event: H Referred to Finance & Tax Committee Time: 03/14/2011 - 11:28 AM Member: Committee: Finance & Tax Committee Version: __
Event: H 1st Reading Time: 03/08/2011 - 10:24 PM Member: Committee: Version: __
Event: H Filed Time: 03/04/2011 - 10:33 AM Member: Kriseman Committee: Version: __

Statutes Referenced by this Bill