Bill Status of SB1406 103rd General Assembly
Short Description: FRANCHISE TAX-REPEAL
Sen. Win Stoller - Jason Plummer, Dave Syverson, Andrew S. Chesney, Craig Wilcox and Sally J. Turner
| 2/6/2023||Senate||Referred to Assignments|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Business Corporation Act of 1983. Provides that, in the case of a domestic or foreign corporation, no payment is required for a franchise tax that would have been due and payable on or after January 1, 2024. Repeals those Sections on January 1, 2025. Directs the Legislative Reference Bureau to prepare a bill effecting necessary changes to conform the statutes to the changes made by the amendatory Act. Effective immediately.