Connecticut Seal

General Assembly

 

Raised Bill No. 400

February Session, 2008

 

LCO No. 1980

 

*01980_______CE_*

Referred to Committee on Commerce

 

Introduced by:

 

(CE )

 

AN ACT ELIMINATING THE BUSINESS ENTITY TAX.

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

Section 1. (Effective July 1, 2008, and applicable to taxable years commencing on or after January 1, 2008) Section 12-284b of the general statutes is repealed.

This act shall take effect as follows and shall amend the following sections:

Section 1

July 1, 2008, and applicable to taxable years commencing on or after January 1, 2008

New section

Statement of Purpose:

To eliminate the tax on limited liability companies, limited liability partnerships, limited partnerships and S corporations.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]