CHAPTER NUMBER: 603
File Code: Income
Crossfiled with: HOUSE BILL 447
- Sponsored By:
-
Senator Hogan
- Entitled:
-
Limited Liability Company Tax Reform Act of 1997
Exempting a limited liability company from the requirement to file an
income tax return under specified circumstances if it only has one
member; clarifying the obligation of a limited liability to file a
partnership tax return or a corporation tax return; requiring the
profit and loss of a limited liability company having only one member
to be reflected on the member's tax return under specified
circumstances; exempting specified transfers to or from a limited
liability company from the motor vehicle excise tax; etc.
Senate Action
- 1/31
- First Reading Budget and Taxation
- 2/5
- Hearing 2/19 at 1:30 p.m.
- 4/5
- Favorable Report by Budget and Taxation
- Favorable Report Adopted
- Second Reading Passed
- 4/6
- Third Reading Passed (45-0)
- 5/22
- Signed by the Governor Chapter 603
House Action
- 4/5
- First Reading Ways and Means
- 4/7
- Favorable Report by Ways and Means
- 4/6
- Favorable Report Adopted
- Second Reading Passed
- Motion Rules Suspended 2rdgs same day (Delegate Hurson) Adopted (114-8)
- Third Reading Passed (128-0)
- Bill indexed under the following Subjects:
- COMMERCE AND BUSINESS -see also- SMALL BUSINESS
- CORPORATIONS -see also- MERGERS
- EXCISE TAX
- EXEMPTIONS
- INCOME TAX
- LIABILITY -see also- GOOD SAMARITAN
- MOTOR VEHICLES -see also- ABANDONED VEH; OFF-RD. VEH.; TRUCK
- PARTNERSHIPS
- Bill affects the following Statutes:
- Tax - General
- (
10-819
)
- Transportation
- (
13-810
)
- Bill Text:
- First Reading (PDF),
Third Reading (PDF), Enrolled
- Fiscal Note:
Available (PDF)