General Assembly Proposed Bill No. 567
January Session, 2013 LCO No. 1898
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. BARTOLOMEO, 13th Dist.
General Assembly
Proposed Bill No. 567
January Session, 2013
LCO No. 1898
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. BARTOLOMEO, 13th Dist.
AN ACT REQUIRING COMBINED REPORTING FOR MULTISTATE CORPORATIONS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That chapter 208 of the general statutes be amended to implement mandatory combined reporting for multistate corporations.
Statement of Purpose:
To promote corporate income tax equity in Connecticut by implementing mandatory combined reporting to ensure that multistate corporations conducting business in Connecticut are paying the requisite amount owed to the state in corporate income taxes, to ensure that revenues pertaining to profits earned by corporations within the state are appropriately collected, and to ensure that Connecticut residents and small business owners are not subjected to higher tax rates.