Consolidated corporate income tax; returns of affiliated corporations. (HB1676)

Introduced By

Del. Mark Keam (D-Vienna)

Progress

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

Description

Consolidated corporate income tax returns of affiliated corporations. Simplifies the process by which companies elect to switch to consolidated corporate income tax return filing status and reduces from 20 to five years the period during which the affiliated group of corporations must have filed on the same basis prior to switching to consolidated return filing status. Current law requires a group of corporations to apply to the Tax Commissioner for permission to change the basis of the type of return filed and to meet some specific requirements in order for permission to be granted. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/17/2020Committee
01/17/2020Presented and ordered printed 20105114D
01/17/2020Referred to Committee on Finance
01/28/2020Impact statement from TAX (HB1676)
01/29/2020Assigned Finance sub: Subcommittee #3
01/31/2020Subcommittee recommends continuing to 2021
02/05/2020Continued to 2021 in Finance

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