Income tax, corporate; market-based sourcing. (SB1006)

Introduced By

Sen. John Watkins (R-Midlothian)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Corporate income tax; market-based sourcing.  Changes the way the sales factor is determined, for purposes of the corporate income tax, so that it will be market-based sourcing rather than costs of performance, which is the current method used. The bill would become effective for taxable years beginning on or after January 1, 2012. Read the Bill »

Status

02/02/2011: Failed to Pass in Committee

History

DateAction
01/11/2011Prefiled and ordered printed; offered 01/12/11 11102827D
01/11/2011Referred to Committee on Finance
01/29/2011Impact statement from TAX (SB1006)
02/02/2011Passed by indefinitely in Finance with letter (15-Y 0-N) (see vote tally)
02/02/2011Letter sent to the Joint Legislative Audit and Review Commission