AN ACT CONCERNING THE APPLICABILITY OF THE BUSINESS ENTITIES TAX.

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

That chapter 213a of the general statutes be amended to apply the limited liability companies, limited liability partnerships, limited partnerships and S corporations tax only to affected business entities with yearly net profits equal to or exceeding fifteen thousand dollars.

Statement of Purpose:

To eliminate the business entity tax for businesses whose yearly net profits are under fifteen thousand dollars.