Text: H01127                            Text: H01129
Text: H01100 - H01199                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 1128

Amendment Text

PAG LIN
  1  1    Amend House File 306 as follows:
  1  2    #1.  Page 1, line 12, by inserting after the word
  1  3 "state" the following:  "or resident sole proprietor
  1  4 or resident partner in a partnership which carries on
  1  5 business within and without the state".
  1  6    #2.  Page 1, line 19, by inserting after the word
  1  7 "shareholder" the following:  ", sole proprietor, or
  1  8 partner".
  1  9    #3.  Page 1, line 22, by inserting after the word
  1 10 "shareholder" the following:  ", sole proprietor, or
  1 11 partner".
  1 12    #4.  Page 1, line 25, by inserting after the word
  1 13 "shareholder" the following:  ", sole proprietor, or
  1 14 partner".
  1 15    #5.  Page 3, line 24, by inserting after the word
  1 16 "state" the following:  "resident sole proprietor or
  1 17 resident partner in a partnership which carries on
  1 18 business within and without the state,".
  1 19    #6.  Page 4, line 13, by striking the words and
  1 20 figure "unnumbered paragraph 1,".
  1 21    #7.  Page 4, line 15, by inserting before the word
  1 22 "A" the following:  "b."
  1 23    #8.  Page 4, line 18, by inserting after the word
  1 24 "corporation" the following:  ", sole proprietorship,
  1 25 or partnership".
  1 26    #9.  Page 4, line 20, by inserting after the word
  1 27 "shareholders" the following:  ", sole proprietor, or
  1 28 partners".
  1 29    #10.  Page 4, by inserting after line 22 the
  1 30 following:
  1 31    "(1)  The net income or loss of the corporation,
  1 32 sole proprietorship, or partnership which is fairly
  1 33 and equitably attributable to this state under in the
  1 34 manner provided in section 422.33, subsections 2 and
  1 35 3.
  1 36    (2)  Any cash or the value of property
  1 37 distributions which are made only to the extent that
  1 38 they are paid from income upon which Iowa income tax
  1 39 has not been paid, as determined under rules of the
  1 40 director, reduced by fifty percent of the amount of
  1 41 any of these distributions that are made to enable the
  1 42 shareholder to pay federal income tax on items of
  1 43 income, loss, and expenses from the corporation or
  1 44 reduced by one hundred percent of such amount in the
  1 45 case of a sole proprietorship, or partnership."
  1 46    #11.  Page 4, line 27, by inserting after the word
  1 47 "Code," the following:  "sole proprietor, or
  1 48 partner,".
  1 49    #12.  Page 4, line 31, by inserting after the word
  1 50 "Code" the following:  ", sole proprietorship, or
  2  1 partnership".
  2  2    #13.  Title page, line 3, by inserting before the
  2  3 word "and" the following:  ", to sole proprietors, and
  2  4 partners of partnerships".  
  2  5 
  2  6 
  2  7                               
  2  8 RICHARDSON of Warren
  2  9 HF 306.301 77
  2 10 mg/cf/28
     

Text: H01127                            Text: H01129
Text: H01100 - H01199                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

Iowa General Assembly

Search: House Bills and Amendments (77th General Assembly)

© 1997 Cornell College and League of Women Voters of Iowa

Comments about this site or page? webmaster@legis.iowa.gov. Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.

Last update: Fri Feb 28 03:41:25 CST 1997
URL: /DOCS/GA/77GA/Legislation/H/01100/H01128/970227.html
jhf