SB 133: Corporate Net Worth Tax; less than a certain amount; make such tax inapplicable to corporationsVoted on Tuesday March 28, 2017
John Pezold's thoughts
SB 133 provides a tax credit against an entity's state tax liability for a rural investor who makes a capital investment in a rural fund. A "rural fund is an entity certified by the Dept. of Community Affairs that seeks to have an investment that can be reinvested in eligible businesses. The credit is not refundable or able to be sold in the open market.
Credits that are allocated to the individual partners for their direct use.
The department is allowed to deny or grant applications for the program within 30 days of receipt of a completed application and can certify up to $100 million in capital investments.
The bill exempts corporations with a net worth of less than $100,000 from the corporate net worth tax.More information on legis.ga.gov
The table below breaks down the total number of votes, and marks the majority vote.
|Did not vote||3||1.7%|