Bill Title: Disallows tax deduction under corporation business tax and gross income tax for punitive damages paid in connection with legal action; includes amount paid as punitive damages on behalf of taxpayer in income for tax purposes.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-09 - Introduced in the Senate, Referred to Senate Judiciary Committee [S1128 Detail]

Text: Latest bill text (Introduced) [HTML]

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