HB20-1202
Previous Taxed Income Gain Deduction C Corporation
| Type | Bill |
|---|---|
| Session | 2020 Regular Session |
| Subjects |
Concerning the repeal of the income tax deduction for previously taxed income or gain for C corporations.
Bill Summary:
Statutory Revision Committee. Under current law, the income tax deduction for previously taxed income or gain for C corporations allows C corporations, when calculating their Colorado taxable income, to deduct from their federal taxable income any income or gain that was taxed by Colorado prior to 1965, to the extent that such income or gain is included in their current federal taxable income. The bill repeals this income tax deduction.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Postpone House Bill 20-1202 indefinitely. | The motion passed on a vote of 5-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 20-1202 to the Committee of the Whole. | The motion passed on a vote of 9-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 03/03/2020 | Third Reading | BILL |
65
AYE
0
NO
0
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 05/26/2020 | Senate | Senate Committee on Business, Labor, & Technology Postpone Indefinitely |
| 03/05/2020 | Senate | Introduced In Senate - Assigned to Business, Labor, & Technology |
| 03/03/2020 | House | House Third Reading Passed - No Amendments |
| 03/02/2020 | House | House Second Reading Passed - No Amendments |
| 02/26/2020 | House | House Committee on Business Affairs & Labor Refer Unamended to House Committee of the Whole |
| 01/30/2020 | House | Introduced In House - Assigned to Business Affairs & Labor |
Prime Sponsor
Sponsor
Co-Sponsor