SB 1596 (2020) -  Corporate Income Tax

by Rodriguez
Revising the definition of the term “adjusted federal income” to prohibit specified deductions, to limit certain carryovers, and to require subtractions of certain amounts paid and received within a water’s edge group for the purpose of determining subtractions from taxable income; specifying circumstances under which a corporation is presumed to be, deemed to be, or deemed not to be a member of a water’s edge group; specifying requirements for, limitations on, and prohibitions in calculating and reporting income in a water’s edge group return, etc.
Effective Date: 07/01/2020
Last Event: 03/14/20 S Died in Commerce and Tourism on Saturday, March 14, 2020 12:00 AM

Referred Committees and Committee Actions

Senate Referrals

  • Commerce and Tourism
  • Finance and Tax
  • Appropriations

Related Bills

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: S Died in Commerce and Tourism Time: 03/14/2020 - 12:00 AM Member: Committee: Commerce and Tourism Version: __
Event: S Indefinitely postponed and withdrawn from consideration Time: 03/14/2020 - 12:00 AM Member: Committee: Version: __
Event: S Introduced -SJ 157 Time: 01/22/2020 - 6:00 PM Member: Committee: Version: __
Event: S Referred to Commerce and Tourism; Finance and Tax; Appropriations -SJ 157 Time: 01/17/2020 - 1:04 PM Member: Committee: Commerce and Tourism Version: __
Event: S Filed Time: 01/09/2020 - 10:10 AM Member: Committee: Version: __