AN ACT RELATING TO TAXATION -- BUSINESS CORPORATION TAX
HB 5753 proposes a change to the state's business corporation tax laws. It directly affects small business corporations that have elected "subchapter S" status. The bill would exempt these subchapter S corporations from paying the minimum annual corporate tax during their first year of existence. Currently, the minimum tax for these corporations is $400. This measure aims to provide a tax exemption for newly formed subchapter S corporations in their initial year of operation.
Bill status
died
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 26, 2025
Last action May 6, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
1
May 6, 2025
Committee
05/06/2025 Committee recommended measure be held for further study
legislature
Feb 26, 2025
Introduced
02/26/2025 Introduced, referred to House Finance
lower
10 primary · 0 co-sponsors
Sponsors
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