Dennis Hollingsworth
- Republican
Author
The Personal Income Tax Law and the Corporation Tax Law provide that gain or loss upon the disposition of a capital asset is determined by reference to the adjusted basis of that asset. This bill would, for taxable years beginning on or after January 1, 2009, allow a taxpayer to elect to pay a tax on the sale or disposition of any capital asset, as defined, that results in a net capital gain, as defined, in an amount equal to 2% of the total net capital gain, as provided. This bill would take effect immediately as a tax levy.
No votes to display
Returned to Secretary of Senate pursuant to Joint Rule 56.
Set, first hearing. Hearing canceled at the request of author.
Set for hearing May 13.
To Com. on REV. & TAX.
Read first time.
From print. May be acted upon on or after March 30.
Introduced. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB568 | HTML |
| 02/27/09 - Introduced |
| Document | Format |
|---|---|
| No related documents. |
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