General Assembly Proposed Bill No. 164
February Session, 2012 LCO No. 608
Referred to Committee on Commerce
Introduced by:
SEN. MCKINNEY, 28th Dist. SEN. FASANO, 34th Dist.
General Assembly
Proposed Bill No. 164
February Session, 2012
LCO No. 608
Referred to Committee on Commerce
Introduced by:
SEN. MCKINNEY, 28th Dist.
SEN. FASANO, 34th Dist.
AN ACT CONCERNING A SMALL BUSINESS REINVESTMENT ACCOUNT.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to provide a deferral on taxes owed by a small business by allowing such small business to deposit funds in an account, which funds, upon withdrawal, shall be used for capital expenses and worker training and shall be subject to one-half the rate of tax.
Statement of Purpose:
To assist small businesses by allowing them to defer taxes on income that is set aside and used for capital expenses and worker training.