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Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

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SB490 • 2025

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

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
Senator Smith DB
Last action
2025-06-27
Official status
In Senate 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

  1. 2025-06-27 Senate

    In committee upon adjournment.

  2. 2025-03-03 Senate

    Public Hearing held.

  3. 2025-01-17 Senate

    Referred to Finance and Revenue.

  4. 2025-01-13 Senate

    Introduction and first reading. Referred to President's desk.

Official Summary Text

Digest: Raises the exempt amount and the filing threshold for the CAT. (Flesch Readability Score: 72.6).
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 Senate Committee