Phases-out the corporation income and franchise taxes and reduces the amount of exemptions, deductions, and credits that may be claimed to reduce corporate income and franchise tax liability (OR -$644,000,000 RV See Note)
Reduces the amount of certain income tax exclusions, exemptions, deductions, and credits (OR +$850,000,000 SD 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)
Provides for a flat rate for purposes of calculating the corporation income tax (OR -$134,000,000 GF RV See Note)
Provides for a flat rate for purposes of calculating the corporate income tax (OR -$424,000,000 GF RV See Note)
Eliminates the inventory tax credit for corporations and reduces the corporate income tax rates. (1/1/24) (EG +$10,000,000 GF RV See Note)
Eliminates the inventory tax credit for corporations and reduces the corporate income tax rates. (1/1/24)
Provides for a flat rate for purposes of calculating income tax for individuals, estates, and trusts and modifies certain income tax deductions and credits (OR +$19,000,000 GF RV See Note)
Repeals the corporation franchise tax and removes eligibility of certain tax credits to be claimed against corporation franchise tax (OR -$324,000,000 GF RV See Note)
Provides for the termination of certain tax exemptions, exclusions, credits, deductions, and other tax incentives (EG INCREASE GF RV See Note)