HB1676
Consolidated corporate income tax; returns of affiliated corporations.
Summary
As Introduced. Consolidated corporate income tax returns of affiliated corporations.
Simplifies the process by which companies elect to switch to consolidated corporate income tax return filing status and reduces from 20 to five years the period during which the affiliated group of corporations must have filed on the same basis prior to switching to consolidated return filing status. Current law ... (More) requires a group of corporations to apply to the Tax Commissioner for permission to change the basis of the type of return filed and to meet some specific requirements in order for permission to be granted. (Less)-
Bill History
- 01/17/2020 - House: Presented and ordered printed 20105114D
- 01/17/2020 - House: Referred to Committee on Finance
- 01/28/2020 - House: Impact statement from TAX (HB1676)
- 01/29/2020 - House: Assigned Finance sub: Subcommittee #3
- 01/31/2020 - House: Subcommittee recommends continuing to 2021
- 02/05/2020 - House: Continued to 2021 in Finance
