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Committee approves returning franchise tax filings to Secretary of State
Summary
Senate Bill 525 would transfer franchise tax filing back to the Secretary of State and permit DFA to share 2021 filing information; DFA presented an estimate and said it does not anticipate a revenue impact. The committee approved the bill by voice vote.
Senate Bill 525, presented to the Senate Revenue & Tax Committee, would transfer franchise tax filing responsibility back to the Secretary of State and authorize the Department of Finance and Administration (DFA) to share 2021 filing information with the Secretary of State.
Senator Desmain, the bill sponsor in committee, said filers and…
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