Revenue and Fiscal Affairs 11/19/2024
Senate Committee on Revenue and Fiscal Affairs · November 19, 2024
Senate Committee on Revenue and Fiscal Affairs met Nov. 19, 2024, and advanced a multi-bill tax package: a 3% flat personal income tax (with triggers repealed), a negotiated corporate rate of 6% with caps on several tax credits, elimination of the franchise tax, and a suite of related constitutional and statutory changes; several amendments were adopted and one notable amendment on foreign trade zones failed.
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