HB2861Introduced in the House
DOMESTIC FRANCHISE TAX-REPEAL
Introduced by Tony McCombie, District 89
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
Amends the Business Corporation Act of 1983. Provides that, on or after January 1, 2026 and prior to January 1, 2027, the first $100,000 in liability is exempt from the franchise tax payable by domestic corporations. Provides that, in the case of a domestic corporation, no payment is required for a franchise tax that would have been due and payable on or after January 1, 2027. Repeals the provision concerning franchise taxes payable by domestic corporations on January 1, 2027. Effective immediately.
Where it stands
Rule 19(a) / Re-referred to Rules Committee
March 21, 2025
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
Bill history
Filed with the Clerk by Rep. Tony M. McCombie
First Reading
Referred to Rules Committee
Assigned to Revenue & Finance Committee
To Tax Policy: Other Taxes Subcommittee
Rule 19(a) / Re-referred to Rules Committee
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