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CT SB00567

Bill

Official Source

Status

Introduced

1/24/2013

Primary Sponsor

Dante Bartolomeo

Click for details

Origin

Senate

2013 General Assembly

AI Summary

  • Amends Chapter 208 of the general statutes to implement mandatory combined reporting for multistate corporations
  • Requires multistate corporations conducting business in Connecticut to report combined income to ensure proper corporate income tax liability to the state
  • Aims to ensure revenues from profits earned within Connecticut are appropriately collected and prevent tax avoidance through profit-shifting strategies
  • Intended to promote tax equity by preventing multistate corporations from paying lower effective tax rates than Connecticut residents and small business owners

Legislative Description

An Act Requiring Combined Reporting For Multistate Corporations.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

1/24/2013

Committee Referrals

Finance, Revenue and Bonding1/24/2013

Full Bill Text

No bill text available