Income tax, Corporate; apportionment of income using single sales factor method.
Summary
Corporate income tax; apportionment. Allows,for taxable years beginning on and after January 1, 2024, for corporationsto apportion their income to the Commonwealth using the single salesfactor method. The bill provides that such apportionment method shallbe used only if the corporation makes an election to do so.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Feb 13, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
1
Committee
3
Feb 5, 2024
Lower · Passed
Subcommittee recommends laying on the table (5-Y 3-N)
lower
Feb 2, 2024
Committee
Assigned Finance sub: Subcommittee #1
lower
Jan 9, 2024
Committee
Referred to Committee on Finance
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Joe McNamara
RRepublican
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