Extends the single sales factor for computation of corporate income and franchise taxes for manufacturing or merchandising to other qualified businesses through establishment of the Corporate Tax Apportionment Program (EN DECREASE GF RV See Note)
Establishes the Corporate Tax Apportionment Program for the granting of contracts for certain businesses to utilize the single sales factor to compute their taxable for income tax purposes and their taxable capital for franchise tax purposes. (7/1/12) (EG DECREASE GF RV See Note)
Levies a flat corporate income tax, repeals the corporation franchise tax, repeals deductibility of federal income taxes paid, and terminates certain income tax credits (OR DECREASE GF RV See Note)
Creates the Corporate Headquarters Relocation Program which authorizes a rebate for certain costs related to the relocation of certain corporate headquarter projects (EN DECREASE GF RV See Note)
Repeals individual income, corporate income, and corporate franchise taxes and repeals all credits, deductions, exemptions, and exclusions from the taxes (OR DECREASE GF RV See Note)
Providing for the apportionment of business income by the single sales factor and the apportionment of financial institution income by the receipts factor, deductions from income when using the single sales factor and receipts factor and the decrease in corporate income tax rates.