Income taxes, state; recognition of income from dealer disposition of property under installment. (SB978)
Introduced By
Sen. Richard Stuart (R-Westmoreland) with support from co-patron Sen. Robert Hurt (R-Chatham)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Income taxes; recognition of income from dealer dispositions of property. Allows the income from dealer dispositions of property made on or after January 1, 2009, to be recognized under the installment method at the election of the taxpayer, provided that (i) the election relating to the dealer disposition of the property has been made on or before the due date prescribed by law for filing the taxpayer's income tax return, and (ii) the dealer disposition is in accordance with restrictions and conditions established by the Department. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
01/12/2009 | Prefiled and ordered printed; offered 01/14/09 098057333 |
01/12/2009 | Referred to Committee on Finance |
01/27/2009 | Impact statement from TAX (SB978) |
02/03/2009 | Reported from Finance (16-Y 0-N) (see vote tally) |
02/04/2009 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
02/05/2009 | Read second time and engrossed |
02/06/2009 | Read third time and passed Senate (39-Y 0-N) (see vote tally) |
02/10/2009 | Impact statement from TAX (SB978) |
02/11/2009 | Placed on Calendar |
02/11/2009 | Read first time |
02/11/2009 | Referred to Committee on Finance |
02/11/2009 | Assigned Finance sub: 1 |
02/11/2009 | Subcommittee recommends reporting with amendment(s) |
02/16/2009 | Reported from Finance with amendments (22-Y 0-N) (see vote tally) |
02/17/2009 | Read second time |
02/18/2009 | Read third time |
02/18/2009 | Committee amendments agreed to |
02/18/2009 | Engrossed by House as amended |
02/18/2009 | Passed House with amendments BLOCK VOTE (98-Y 0-N) |
02/18/2009 | VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally) |
02/18/2009 | House amendments agreed to by Senate (40-Y 0-N) (see vote tally) |
02/23/2009 | Enrolled |
02/23/2009 | Bill text as passed Senate and House (SB978ER) |
02/23/2009 | Impact statement from TAX (SB0978ER) |
02/24/2009 | Signed by Speaker |
02/25/2009 | Signed by President |
03/27/2009 | G Approved by Governor-Chapter 508 (effective 7/1/09) |
03/27/2009 | G Acts of Assembly Chapter text (CHAP0508) |