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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