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. |