LCO No. 3113 1 of 1
General Assembly Proposed Bill No. 6459
January Session, 2019
LCO No. 3113
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
REP. KLARIDES, 114th Dist.
AN ACT CONCERNING THE CAPITAL BASE TAX.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That chapter 208 of the general statutes be amended to (1) replace, 1
for a taxpayer taxable within and without the state, the apportionment 2
formula used for the capital base tax with a single -factor 3
apportionment formula, and (2) exempt corporations with less than 4
five hundred thousand dollars in revenue from the capital base tax. 5
Statement of Purpose:
To encourage business investment within the state by replacing the
capital base tax apportionment formula and to exempt corporations
with less than five hundred thousand dollars in revenue from the
capital base tax.