Introduced
by
To reduce from 2 percent to 1 percent the alternative Single Business Tax (SBT) tax rate charged to small businesses with receipts of less than $10 million, and which cap the owners' compensation. Also, to increase from $115,000 to $125,000 the maximum annual compensation a firm's proprietor or manager can earn without disqualifying the company from this lower tax rate.
Referred to the Committee on Finance
