Mississippi Legislature

2000 Regular Session

Senate Bill 3088

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Bill Text

History of Actions

Amendments

Background

Title

Description: Franchise tax; provide that entity filing federal return on activity of subsidiary in MS shall be liable for.

Bill Text: [Introduced] [Passed Senate] [Sent to Governor]

History of Actions:

102/21/00(S)Referred To Finance
203/02/00(S)Title Suff Do Pass
303/15/00(S)Passed
403/16/00(S)Transmitted To House
503/20/00(H)Referred To Ways and Means
603/28/00(H)Title Suff Do Pass As Amended
703/30/00(H)Amended
803/30/00(H)Passed As Amended
903/31/00(H)Returned For Concurrence
1004/13/00(S)Concurred in Amend From House
1104/17/00(S)Enrolled Bill Signed
1204/19/00(H)Enrolled Bill Signed
1304/25/00Approved by Governor

Amendments:

Adopted [H] Amendment No 1

Background Information:

Effective dateJanuary 1, 2000
DispositionLaw
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo
Chapter number479

Senate Committee:

House Committee:

Principal Author: Minor

Code Sections: A 027-0013-0001, A 027-0013-0051

Title: AN ACT TO REQUIRE ENTITIES THAT ARE REQUIRED TO FILE AND REPORT FOR FEDERAL INCOME TAX PURPOSES ON THE ACTIVITY CONDUCTED IN MISSISSIPPI FOR QUALIFIED SUBCHAPTER S SUBSIDIARIES AND SINGLE MEMBER LIMITED LIABILITY COMPANIES, SHALL BE REQUIRED TO FILE MISSISSIPPI COMBINATION RETURNS OF INCOME AND FRANCHISE TAX; TO AMEND SECTION 27-13-1, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "DOING BUSINESS" IN THE CORPORATION FRANCHISE TAX LAW TO PROVIDE THAT AN ENTITY THAT IS REQUIRED TO FILE AND REPORT FOR FEDERAL INCOME TAX PURPOSES THE ACTIVITY CONDUCTED BY CERTAIN SUBCHAPTER S SUBSIDIARIES AND CERTAIN LIMITED LIABILITY CORPORATIONS SHALL BE CONSIDERED AS DOING BUSINESS IN THIS STATE; TO AMEND SECTION 27-13-51, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ENTITIES THAT ARE REQUIRED TO FILE AND REPORT FOR FEDERAL INCOME TAX PURPOSES ON THE ACTIVITY CONDUCTED BY CERTAIN SUBCHAPTER S SUBSIDIARIES AND CERTAIN LIMITED LIABILITY CORPORATIONS AND SUCH SUBSIDIARIES AND COMPANIES SHALL BE JOINTLY AND SEVERALLY LIABLE FOR FRANCHISE TAXES LEVIED BY THIS CHAPTER; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 04/25/00 at 00:01.



End Of Document

2000/pdf/History/SB/SB3088.htm