LCO No. 1552 1 of 1
General Assembly Proposed Bill No. 5599
January Session, 2019
LCO No. 1552
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
REP. DAVIS C., 57th Dist.
AN ACT ALLOWING AN AFFECTED BUSINESS ENTITY TO CHOOSE
ITS GOVERNING TAX LAWS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That title 12 of the general statutes be amended to allow affected 1
business entities, as defined in section 12-699 of the general statutes, to 2
opt out of the affected business entity tax imposed under sections 12-3
699 and 12-699a of the general statutes and be governed instead by the 4
applicable tax laws that existed prior to the enactment of public act 18-5
49, provided if an affected business entity does not affirmatively opt 6
out, the affected business entity tax shall apply. 7
Statement of Purpose:
To provide affected business entities the choice to be taxed under the
affected business entity tax provisions or the applicable tax laws that
existed prior to the enactment of said tax provisions.