AN ACT CONCERNING CORPORATION BUSINESS TAX TREATMENT OF NONCASH COMPENSATION.


General Assembly		*Proposed Bill No. 5168*
*February Session, 2006*		LCO No. 764

Referred to Committee on Finance, Revenue and Bonding
Introduced by:
REP. DILLON, 92nd Dist.

AN ACT CONCERNING CORPORATION BUSINESS TAX TREATMENT OF NONCASH COMPENSATION.

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

That chapter 208 of the general statutes be amended to provide that noncash compensation expenses, to the extent excludable for federal income tax purposes, shall be included for purposes of the corporation business tax.

Statement of Purpose:

To assure that stock options and other noncash compensation expenses of corporations are not deducted from income for purposes of the corporation business tax.