Increases the exempt amount and the filing threshold for purposes of the corporate activity tax.

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Representative Wright,, Levy B,, Senator Thatcher,, Representative Mannix, Representative Diehl,, Elmer,, Javadi,, Lewis,, Osborne,, Owens,, Reschke,, Scharf,, Yunker,
Last action: 2025-06-27
Official status: In House Committee
Effective date: Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2025-06-27 House
In committee upon adjournment.
2025-01-17 House
Referred to Revenue.
2025-01-13 House
First reading. Referred to Speaker's desk.

Official Summary Text

Digest: Raises the exemption and filing thresholds for the CAT tax. Starts with the tax year 2026. Becomes law 91 days from sine die. (Flesch Readability Score: 68.9).
Increases the exempt amount and the filing threshold for purposes of the corporate activity tax.
Applies to tax years beginning on or after January 1, 2026.
Takes effect on the 91st day following adjournment sine die.
Relating to: Relating to exempt amount under corporate activity tax; prescribing an effective date.
Current location: In House Committee