Rep. Gregory Harris

Filed: 3/25/2019

 

 


 

 


 
10100HB2085ham001LRB101 08842 HLH 58330 a

1
AMENDMENT TO HOUSE BILL 2085

2    AMENDMENT NO. ______. Amend House Bill 2085 by replacing
3everything from line 16 on page 171 through line 18 on page 172
4with the following:
5            "(A) The term "unitary business group" means a
6        group of persons related through common ownership
7        whose business activities are integrated with,
8        dependent upon and contribute to each other. The group
9        will not include those members whose business activity
10        outside the United States is 80% or more of any such
11        member's total business activity and, for taxable
12        years ending on or after December 31, 2019, in the case
13        of a member other than an individual, who is not a
14        "United States Person" within the meaning of Section
15        7701(a)(30) of the Internal Revenue Code; for purposes
16        of this paragraph and clause (a)(3)(B)(ii) of Section
17        304, business activity within the United States shall
18        be measured by means of the factors ordinarily

 

 

10100HB2085ham001- 2 -LRB101 08842 HLH 58330 a

1        applicable under subsections (a), (b), (c), (d), or (h)
2        of Section 304 except that, in the case of members
3        ordinarily required to apportion business income by
4        means of the 3 factor formula of property, payroll and
5        sales specified in subsection (a) of Section 304,
6        including the formula as weighted in subsection (h) of
7        Section 304, such members shall not use the sales
8        factor in the computation and the results of the
9        property and payroll factor computations of subsection
10        (a) of Section 304 shall be divided by 2 (by one if
11        either the property or payroll factor has a denominator
12        of zero). The computation required by the preceding
13        sentence shall, in each case, involve the division of
14        the member's property, payroll, or revenue miles in the
15        United States, insurance premiums on property or risk
16        in the United States, or financial organization
17        business income from sources within the United States,
18        as the case may be, by the respective worldwide figures
19        for such items. Common ownership in the case of".