Relates to businesses with fewer than twenty employees
This bill exempts the first $50,000 of taxable income for businesses employing 20 or fewer employees. It amends tax law to create this exemption, applying to all such businesses regardless of industry. The provision takes effect for tax years beginning January 1, 2027. It directly affects small businesses meeting the employee threshold by reducing their initial tax liability.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
Governor
Introduced Mar 28, 2025
Last action Jan 7, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO BUDGET AND REVENUE
upper
Mar 28, 2025
Committee
REFERRED TO BUDGET AND REVENUE
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Steve Rhoads
RRepublican/Conservative
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