RELATING TO TAX HAVEN ABUSE.
Summary
Part I: Effective 1/1/2027, requires corporations to include in their income the income of all foreign subsidiaries to the State; applies the State's apportionment formula to determine the share of reported profits subject to the appropriate tax, which shall be deposited into the state general fund; and requires corporations to report all profits, losses, revenues, and inter-company transactions made and all taxes paid in other states. Part II: Establishes within DOTAX a Corporate Tax Law Task Force to annually review the State's corporate tax laws and recommend updates to close tax loopholes.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2026
Committee Review
Floor Vote
Governor
Introduced Jan 26, 2026
Last action Jan 30, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
1
Jan 30, 2026
Committee
Referred to ECD, FIN, referral sheet 5
lower
Jan 28, 2026
Introduced
Introduced and Pass First Reading.
lower
Jan 26, 2026
Introduced
Pending introduction.
lower
6 primary · 0 co-sponsors
Sponsors
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