Category: Economy, Budget and Taxes

HB 1443 (2016) relative to the reasonable compensation deduction from gross business profits under the business profits tax and requiring the department of revenue administration to prepare draft rules relative to auditing.

House/Senate Bill: House

Description: Repeals certain provisions relative to burden of proof in determining the reasonable compensation deduction and advises the Department of Revenue Administration to use certain averages of compensation when determining reasonableness.

Bill Sponsor: Susan Almy

Bill Co Sponsor: Click the "Link to Full Bill" for information

Next Hearing Date: Click the "Link to Full Bill" for information

Next Voting Date: Click the "Link to Full Bill" for information

Bill Status

Killed in the House

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