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Senate bill would drop $500 penalty imposed on some composite returns; NFIB backs repeal
Summary
Senate Bill 259 seeks to eliminate a $500 fee that the Department of Revenue has assessed to composite filers who failed to list partners with zero tax liability. Senator Baldwin and the NFIB said the fee was often charged to small pass‑through businesses in error; the committee discussed a drafting fix so penalties remain for filers who should have reported.
Senate Bill 259 would repeal a $500 fee imposed on corporations and pass‑through entities filing composite returns who did not list all members; Senator Baldwin said the fee surged into practice recently and resulted in collections that largely represented fee revenue rather…
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