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Bill > LD1337


ME LD1337

An Act to Require a Biennial Report on the Corporate Income Tax to the Joint Standing Committee Having Jurisdiction over Taxation Matters


summary

Introduced
03/28/2023
In Committee
03/28/2023
Crossed Over
03/28/2024
Passed
04/01/2024
Dead
Signed/Enacted/Adopted
04/16/2024

Introduced Session

131st Legislature

Bill Summary

An Act to Require a Biennial Report on the Corporate Income Tax to the Joint Standing Committee Having Jurisdiction over Taxation Matters

AI Summary

This bill requires the Maine Bureau of Revenue Services to provide a biennial report to the legislative committee overseeing taxation matters. The report must include information on the 50 largest for-profit employers in the state that paid zero state corporate income tax or received a refunded portion of a refundable credit in the past 4 tax years. It must also provide data on the number of corporations that reported various levels of federal taxable income, the total income reported and apportioned to the state, and the number and percentage of corporations that reported zero or less total corporate income tax due or zero income apportioned to the state. This data is intended to provide lawmakers with information on corporate income tax filings and payments in Maine.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Enacted, Apr 16, 2024 (on 04/16/2024)

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