2012 House Bill 5778

Raise business income tax rate

Introduced in the House

July 18, 2012

Introduced by Rep. John Olumba (D-5)

To increase the state business income tax rate from 6 percent to 15 percent. Manufacturers and firms “primarily engaged in the business of research” would have a rate of 6 percent if they add at least five new jobs during the preceding year.

Referred to the Committee on Tax Policy