Text: H09146 Text: H09148 Text: H09100 - H09199 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend House File 2551 as follows:
1 2 #1. Page 1, line 19, by inserting after the word
1 3 "forward." the following: "If the small business
1 4 elects to take the small business tax credit, then the
1 5 small business may not deduct for Iowa tax purposes
1 6 any amount of the small business administration
1 7 guaranty fee deducted for federal income tax purposes.
1 8 For purposes of this section, an individual may
1 9 claim the small business tax credit allowed a
1 10 partnership, subchapter S corporation, limited
1 11 liability company, or estate, or trust electing to
1 12 have the income taxed directly to the individual. The
1 13 amount claimed by the individual shall be based upon
1 14 the pro rata share of the individual's earnings of a
1 15 partnership, subchapter S corporation, limited
1 16 liability company, or estate or trust."
1 17 #2. Page 2, line 4, by inserting after the word
1 18 "forward." the following: "If the small business
1 19 elects to take the small business tax credit, then the
1 20 small business may not deduct for Iowa tax purposes
1 21 any amount of the small business administration
1 22 guaranty fee deducted for federal income tax
1 23 purposes."
1 24
1 25
1 26
1 27 LORD of Dallas
1 28 HF 2551.301 77
1 29 mg/cf/28
Text: H09146 Text: H09148 Text: H09100 - H09199 Text: H Index Bills and Amendments: General Index Bill History: General Index
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