HB 1221 (2022)
Cut Business Profits Tax to 7.5%
This bill became law.
Last updated 2024-02-27 4:23 pm
Summary:
Reduces the Business Profits Tax rate from 7.6% to 7.5% and the Business Enterprise Tax rate from 0.55% to 0.50% for taxable periods ending on or after December 31, 2023.
The House amended the bill to only cut the Business Profits Tax to 7.5%.
The Senate amended the bill to also provide towns and cities with 7.5% of their retirement contribution costs for teachers, police officers, and firefighters for one year.
Status:
Status Detail:
Signed by Governor
Public Hearing Date:
04/06/2022 10:00 am
Public Hearing Location:
LOB Room 101
House Voting Date:
03/15/2022
Senate Voting Date:
05/26/2022
The data you see here is pulled daily from official government databases. The bill summary is created by Citizens Count staff. Learn more about our methodology for summarizing and updating bills.
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