8/31/05-A bill that would give small businesses who are C Corporations an income tax exemption based upon their net income is likely dead.
HB352, sponsored by Rep. Bryan Holloway, R-King, remains in the House Finance Committee with senators already having adjourned for the year.
The bill would give corporations earning up to $100,000 an exemption of $20,000 and a corporation with income of $100,000 to $200,000 an exemption of $12,000. Companies earning more income than $200,000 would receive no exemption.

4/15/05-A bill in the House Finance Committee would give small businesses who are C Corporations an income tax exemption based upon their net income.
HB352, sponsored by Rep. Bryan Holloway, R-King, would give corporations earning up to $100,000 an exemption of $20,000 and a corporation with income of $100,000 to $200,000 an exemption of $12,000. Companies earning more income than $200,000 would receive no exemption.
It would take effect January 1, 2006.
For bill status, call (919) 733-7779.
A similar Senate bill – SB172 – is in the Senate Finance Committee.