Income tax, corporate; exemption, filing. (HB453)
Introduced By
Del. Jim LeMunyon (R-Oak Hill)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Corporate income taxes. Establishes beginning with the 2015 taxable year a $25,000 taxable income threshold for corporate income tax liability and increases from $1,000 to $1,500 the minimum amount of income tax a corporation expects to pay to require the corporation to make estimated payments of income tax. The bill also provides that a corporation exempt from income tax would still be required to file a corporate income tax return if the corporation's gross revenues for the taxable year exceeded $500,000. The $25,000 taxable income threshold and the $1,500 of minimum expected income tax would be adjusted annually for inflation beginning with taxable year 2016. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/06/2014 | Prefiled and ordered printed; offered 01/08/14 14103445D |
01/06/2014 | Referred to Committee on Finance |
01/22/2014 | Assigned Finance sub: Subcommittee #3 |
01/23/2014 | Impact statement from TAX (HB453) |
01/24/2014 | Subcommittee recommends continuing to 2015 |
01/27/2014 | Continued to 2015 in Finance |
12/04/2014 | Left in Finance |