Loading chat...

OR HB2039

Bill

Official Source

Status

Failed

6/27/2025

Primary Sponsor

Boomer Wright

Click for details

Origin

House of Representatives

2025 Legislative Measures

AI Summary

  • Raises the corporate activity tax (CAT) exemption threshold from $1 million to $10 million in taxable commercial activity
  • Increases the filing threshold for CAT returns from $1 million to $10 million in commercial activity
  • Tax calculation remains $250 plus 0.57% of taxable commercial activity exceeding the threshold
  • Applies to tax years beginning on or after January 1, 2026
  • Takes effect 91 days after the 2025 legislative session adjourns

Legislative Description

Relating to exempt amount under corporate activity tax; prescribing an effective date.

Last Action

In committee upon adjournment.

6/27/2025

Committee Referrals

Revenue1/17/2025

Full Bill Text

No bill text available