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HB 0468 - Income tax; taxation of corporations; change certain provisions

Tracking Level: Work
Sponsor: Martin,Charles 47th
Last Action: 2/19/2009 - House Second Readers
House Committee: W&M
Assigned To:
Finance - TaxationNext Bill

Staff Analysis of the Legislation

SUMMARY:

            This bill would amend Article 2 of Chapter 7 of Title 48 of the O.C.G.A. to grant tax credits to corporations whose stockholders paid into the corporation expenses or costs that were, therefore, included in the corporation’s taxable income.

 

NOTE:

            Though perhaps needed to benefit corporations, this is another example of proposed legislation that chips away at state revenue during times of financial crisis.


Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text