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CT HB05702

Bill

Official Source

Status

Introduced

1/21/2011

Primary Sponsor

Tim O'Brien

Click for details

Origin

House of Representatives

2011 General Assembly

AI Summary

  • Replace the flat 7.5% corporate income tax with a three-tiered progressive tax structure based on net corporate income
  • Tax net corporate income under $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

1/21/2011

Committee Referrals

Finance, Revenue and Bonding1/21/2011

Full Bill Text

No bill text available