Legislation

Title: Corporate Income Tax - Single Sales Factor Apportionment Exemption - Worldwide Headquartered Company Election
Sponsored by: Senator Guzzone
Status: In the Senate - Favorable Report by Budget and Taxation
Analysis: Fiscal and Policy Note

Synopsis

Requiring a certain worldwide headquartered company, if the company's parent corporation is a franchisor, to employ at the parent corporation's principal executive office in the State at least 400 full-time employees at all times between July 1, 2017, and June 30, 2020, in order to elect to use a certain formula to apportion certain income to the State for purposes of the income tax on corporations; and providing for the application of the Act.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Details

Bill File Type: Regular

Effective Date(s): July 1, 2019

History

Legislation History
Chamber Senate Calendar Date 2/28/2019 Legislative Date 2/28/2019 Action First Reading Senate Rules Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Corporate Income Tax - Single Sales Factor Apportionment Exemption - Worldwide Headquartered Company Election Proceedings
Chamber Senate Calendar Date 3/08/2019 Legislative Date 3/11/2019 Action Rereferred to Budget and Taxation Proceedings
Chamber Senate Calendar Date 3/12/2019 Legislative Date 3/12/2019 Action Hearing 3/27 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 4/08/2019 Legislative Date 4/08/2019 Action Favorable Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 4/08/2019 Legislative Date 4/02/2019 Action Favorable Proceedings 65 Click to view Recorded Media
Chamber Senate Calendar Date 4/08/2019 Legislative Date 4/02/2019 Action Motion Special Order until Later Today (Senator Pinsky) Adopted Proceedings 65 Click to view Recorded Media

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	2/28/2019	2/28/2019	First Reading Senate Rules
			Text - First - Corporate Income Tax - Single Sales Factor Apportionment Exemption - Worldwide Headquartered Company Election
Senate	3/08/2019	3/11/2019	Rereferred to Budget and Taxation
Senate	3/12/2019	3/12/2019	Hearing 3/27 at 1:00 p.m.
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	4/08/2019	4/08/2019	Favorable Report by Budget and Taxation
Senate	4/08/2019	4/02/2019	Favorable	65 Click to view Recorded Media
Senate	4/08/2019	4/02/2019	Motion Special Order until Later Today (Senator Pinsky) Adopted	65 Click to view Recorded Media

File Code

Subjects

Statutes