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House Bill 1242


House Bill 1242

ARCHIVE (2008)

Latest Information

 

DIGEST OF INTRODUCED BILL


Business tax matters. Provides that various business tax incentives, deductions, credits, and refunds: (1) expire December 31, 2009; and (2) shall be reviewed by the legislative council or a committee designated by the council. Requires the legislative council or a committee designated by the council to review the expiration of business tax incentives, deductions, credits, and refunds during the interim preceding the interim during which the incentive, deduction, credit, or refund is set to expire. Makes conforming changes. Provides that the adjusted gross income of a corporation that is derived from sources within Indiana includes the apportioned part of the business income of each unitary business in which the corporation cooperates as a member of a unitary group. Defines the terms "unitary business" and "unitary group".
Current Status:
 In Committee - first House
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