Bill Text: GA HB355 | 2011-2012 | Regular Session | Introduced
Bill Title: Business and occupation taxes; corporate net worth tax; repeal
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-02-28 - House Second Readers [HB355 Detail]
Download: Georgia-2011-HB355-Introduced.html
11 LC 18
9626
House
Bill 355
By:
Representative Martin of the
47th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Chapter 13 of Title 48 of the Official Code of Georgia Annotated, relating
to specific, business, and occupation taxes, so as to repeal the corporate net
worth tax; to provide an effective date; to provide for applicability; to
provide that this Act shall not abate or affect prosecutions, punishments,
penalties, administrative proceedings or remedies, or civil actions related to
certain violations; to provide for related matters; to repeal conflicting laws;
and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Chapter
13 of Title 48 of the Official Code of Georgia Annotated, relating to specific,
business, and occupation taxes, is amended by revising Article 4, relating to
the corporate net worth tax, in its entirety as follows:
"ARTICLE
4
48-13-70.
On
or after January 1, 2012, there shall be no corporate net worth taxes whatsoever
levied or collected under this article and no corporate net worth returns are
required."
SECTION
2.
(a)
This Act shall become effective January 1,
2012.
(b) Tax, penalty, and interest liabilities and refund eligibility for prior taxable years shall not be affected by the passage of this Act and shall continue to be governed by the provisions of general law as it existed immediately prior to January 1, 2012.
(c) This Act shall not abate any prosecution, punishment, penalty, administrative proceedings or remedies, or civil action related to any violation of law committed prior to January 1, 2012.
(b) Tax, penalty, and interest liabilities and refund eligibility for prior taxable years shall not be affected by the passage of this Act and shall continue to be governed by the provisions of general law as it existed immediately prior to January 1, 2012.
(c) This Act shall not abate any prosecution, punishment, penalty, administrative proceedings or remedies, or civil action related to any violation of law committed prior to January 1, 2012.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.