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CT HB05242

Bill

Official Source

Status

Introduced

2/18/2010

Primary Sponsor

Tim O'Brien

Click for details

Origin

House of Representatives

2010 General Assembly

AI Summary

  • Replace the current flat 7.5% corporate income tax with a three-tiered progressive tax structure based on net corporate income
  • Tax net corporate income less than $500,000 at 5%
  • Tax net corporate income from $500,000 to $10 million at 7.5%
  • Tax net corporate income over $10 million at 10%

Legislative Description

An Act Concerning A Progressive Corporate Income Tax.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

2/18/2010

Committee Referrals

Finance, Revenue and Bonding2/18/2010

Full Bill Text

No bill text available