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HSB 0502 -
A study bill relating to the exclusion from the computation of net income for the individual income tax of net capital gains from the sale of a business and including retroactive applicability provisions.
Tracking Level:
ISBA Affirmative Legislation
Sponsor:
Last Action:
1/15/2014 - House - In Judiciary
House Committee:
Assigned To:
Taxation
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Staff Analysis of the Legislation
Amends Code Section 422.7(21)(a) to expand the definition of “sale of a business” to include the sale of all or substantially all of the intangible property, stock or equity interests in the business.
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