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CT SB00746

Bill

Official Source

Status

Introduced

1/29/2021

Primary Sponsor

Norman Needleman

Click for details

Origin

Senate

2021 General Assembly

AI Summary

  • Increases the credit allowed against the affected business entity tax to 93.01 percent under section 12-699 of the general statutes
  • Requires the Department of Revenue Services to refund affected business entities for taxable years beginning January 1, 2019, and January 1, 2020
  • Refunds equal the difference between the credit amount claimable at the rate in effect prior to January 1, 2019, and the amount claimed at the current rate
  • Referred to the Committee on Finance, Revenue and Bonding
  • Introduced by Senator Needleman (33rd District) in the January 2021 session

Legislative Description

An Act Increasing The Amount Of The Credit Allowed Against The Affected Business Entity Tax And Requiring The Payment Of Refunds To Affected Business Entities.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

1/29/2021

Committee Referrals

Finance, Revenue and Bonding1/29/2021

Full Bill Text

No bill text available