Bill Text: CT HB05190 | 2010 | General Assembly | Introduced

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Bill Title: An Act Concerning The Deductibility Of Noncash Compensation For Purposes Of The Corporation Business Tax.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-02-16 - Referred to Joint Committee on Finance, Revenue and Bonding [HB05190 Detail]

Download: Connecticut-2010-HB05190-Introduced.html

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General Assembly		Proposed Bill No. 5190
February Session, 2010		LCO No. 675
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
REP. DILLON, 92nd Dist.

AN ACT CONCERNING THE DEDUCTIBILITY OF NONCASH COMPENSATION FOR PURPOSES OF THE CORPORATION BUSINESS TAX.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That chapter 208 of the general statutes be amended to limit the deduction corporations may take for noncash compensation to not more than one million dollars.

Statement of Purpose:

To provide a cap on the amount of noncash compensation companies may deduct from their net income, for purposes of the corporation business tax.