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Senate panel approves technical tax-administration bill moving franchise tax duties to DFA
Summary
The Senate Revenue & Tax Committee approved Senate Bill 561, adopting an amendment and approving several tax-administration changes recommended by the tax-reform task force, including moving franchise tax collection from the Secretary of State to the Department of Finance and Administration (DFNA).
The Senate Revenue & Tax Committee on Dec. 6 approved Senate Bill 561, a package of mostly technical measures aimed at streamlining tax administration.
Senator Hendren, the bill’s presenter, told the committee the bill implements several recommendations from the tax reform task force that studied state tax code over two years. “This is not very exciting stuff and it’s not very expensive stuff but it’s stuff that will make our tax code better,” he said during the committee hearing.
Key provisions in the bill…
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