Legislation

Title: Corporate Income Tax - Single Sales Factor Apportionment Exemption - Worldwide Headquartered Company Election
Sponsored by: Senator Guzzone
Status: In the Senate - Hearing 3/04 at 1:00 p.m.
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; applying the Act to taxable years beginning after December 31, 2019; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Committee Testimony

Witness List

Details

Introduced in a prior session as: SB1022 Session: 2019 Regular Session

Bill File Type: Regular

Effective Date(s): July 1, 2020

History

Legislation History
Chamber Senate Calendar Date 2/03/2020 Legislative Date 2/03/2020 Action First Reading Budget and Taxation 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 2/06/2020 Legislative Date 2/06/2020 Action Hearing 3/04 at 2:00 p.m. Proceedings
Chamber Senate Calendar Date 2/10/2020 Legislative Date 2/10/2020 Action Hearing canceled Proceedings
Chamber Senate Calendar Date 2/10/2020 Legislative Date 2/10/2020 Action Hearing 3/04 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	2/03/2020	2/03/2020	First Reading Budget and Taxation
			Text - First - Corporate Income Tax - Single Sales Factor Apportionment Exemption - Worldwide Headquartered Company Election
Senate	2/06/2020	2/06/2020	Hearing 3/04 at 2:00 p.m.
Senate	2/10/2020	2/10/2020	Hearing canceled
Senate	2/10/2020	2/10/2020	Hearing 3/04 at 1:00 p.m.

File Code

Subjects

Statutes