Text: HSB00777 Text: HSB00779 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.34A, Code 1999, is amended by
1 2 adding the following new subsection:
1 3 NEW SUBSECTION. 8. Storing in the state of tangible
1 4 personal property in warehouses not owned by the foreign
1 5 corporation.
1 6 Sec. 2. EFFECTIVE AND APPLICABILITY PROVISIONS. This Act,
1 7 being deemed of immediate importance, takes effect upon
1 8 enactment and applies to tax years ending on or after the date
1 9 of enactment.
1 10 EXPLANATION
1 11 This bill provides that, for purposes of the corporate
1 12 income tax, a corporation is not doing business or deriving
1 13 income from sources within this state by reason of storing
1 14 tangible personal property in warehouses not owned by it.
1 15 The bill takes effect upon enactment and applies to tax
1 16 years ending on or after that enactment date.
1 17 LSB 7185HC 78
1 18 mg/as/5
Text: HSB00777 Text: HSB00779 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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