Introduced
by
To eliminate all remaining Single Business Tax that businesses pay on their employee health insurance costs, beginning in 2008. As part of a December 2003 agreement to close a $900 million gap between desired state spending and expected revenues, Senate Bills 672 and 673 phase out half of the tax through 2007. Note: Because the SBT is a value added tax, offering health insurance to employees raises a firm’s SBT tax liability.
Referred to the Committee on Tax Policy
