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CT HB05106
Bill
Status
2/14/2018
Primary Sponsor
James Albis
Click for details
AI Summary
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Replaces the current flat corporation income tax on publicly traded corporations with a tiered rate system based on the pay ratio between a company's highest-paid employee and median employee compensation.
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Sets corporation income tax rate at 5% for companies with a pay ratio of 25:1 or less.
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Sets corporation income tax rate at 7.5% for companies with a pay ratio greater than 25:1 up to 100:1.
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Sets corporation income tax rate at 10% for companies with a pay ratio greater than 100:1 up to 250:1.
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Sets corporation income tax rate at 25% for companies with a pay ratio greater than 250:1.
Legislative Description
An Act Concerning A Pay Ratio Corporation Income Tax On Publicly Traded Companies.
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding
2/14/2018