AN ACT CONCERNING UNITARY REPORTING FOR CORPORATE TAXES.


General Assembly		*Proposed Bill No. 5638*
*January Session, 2005*		LCO No. 2069

Referred to Committee on Finance, Revenue and Bonding
Introduced by:
REP. O'BRIEN, 24th Dist.

AN ACT CONCERNING UNITARY REPORTING FOR CORPORATE TAXES.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to require corporations to report their income together with all other associated corporations, and pay their corporate income taxes based on the greater of these "unitary" reports or their liability as separate corporations.

Statement of Purpose:

To enact unitary reporting for corporate taxes.