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.
SB172, sponsored by Sen. Fred Smith, R-Clayton, remained in the Senate Finance Committee when senators wrapped up their work for the year, effectively killing it.
The bill would give corporations earning less than $100,000 an exemption of $25,000 and a corporation with income of $100,000 to$200,000 an exemption of $12,500. Companies earning more income than $200,000 would receive no exemption.

4/15/05-A bill in the Senate Finance Committee would give small businesses who are C Corporations an income tax exemption based upon their net income.
SB172, sponsored by Sen. Fred Smith, R-Clayton, would give corporations earning less than $100,000 an exemption of $25,000 and a corporation with income of $100,000 to$200,000 an exemption of $12,500. Companies earning more income than $200,000 would receive no exemption.
For bill status, call (919) 733-7779.