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Senate clears substitute to clarify corporate tax factor by removing sales from analysis
Summary
Lawmakers substituted and advanced SB 29 to resolve ambiguity in corporate-income tax factor determinations, removing sales from factor analysis and classifying firms by property-and-payroll share to create predictable tax treatment; sponsors expect a reduced fiscal note.
Senators approved a second substitute to Senate Bill 29 aimed at resolving ambiguity in corporate income tax factor calculations by removing the sales factor from the analysis in specified cases and by classifying taxpayers based on whether property plus payroll exceed 50 percent of economic-activity attribution.
Sponsor Sena…
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