Sen. Matt Murphy

Filed: 10/27/2011

 

 


 

 


 
09700SB0405sam007LRB097 04252 HLH 59177 a

1
AMENDMENT TO SENATE BILL 405

2    AMENDMENT NO. ______. Amend Senate Bill 405, AS AMENDED,
3with reference to page and line numbers of Senate Amendment No.
41, by replacing everything from line 24 on page 2 through line
524 on page 3 with the following:
6        "(5) In the case of an individual, trust, or estate,
7    for taxable years beginning on or after January 1, 2011,
8    and ending prior to July 1, 2012 January 1, 2015, an amount
9    equal to 5% of the taxpayer's net income for the taxable
10    year.
11        (5.1) In the case of an individual, trust, or estate,
12    for taxable years beginning prior to July 1, 2012 January
13    1, 2015, and ending after June 30, 2012 December 31, 2014,
14    an amount equal to the sum of (i) 5% of the taxpayer's net
15    income for the period prior to July 1, 2012 January 1,
16    2015, as calculated under Section 202.5, and (ii) 3% 3.75%
17    of the taxpayer's net income for the period after June 30,
18    2012 December 31, 2014, as calculated under Section 202.5.

 

 

09700SB0405sam007- 2 -LRB097 04252 HLH 59177 a

1        (5.2) In the case of an individual, trust, or estate,
2    for taxable years beginning on or after July 1, 2012
3    January 1, 2015, and ending prior to January 1, 2025, an
4    amount equal to 3% 3.75% of the taxpayer's net income for
5    the taxable year.
6        (5.3) (Blank). In the case of an individual, trust, or
7    estate, for taxable years beginning prior to January 1,
8    2025, and ending after December 31, 2024, an amount equal
9    to the sum of (i) 3.75% of the taxpayer's net income for
10    the period prior to January 1, 2025, as calculated under
11    Section 202.5, and (ii) 3.25% of the taxpayer's net income
12    for the period after December 31, 2024, as calculated under
13    Section 202.5.
14        (5.4) (Blank). In the case of an individual, trust, or
15    estate, for taxable years beginning on or after January 1,
16    2025, an amount equal to 3.25% of the taxpayer's net income
17    for the taxable year."; and
 
18by replacing everything from line 20 on page 4 through line 18
19on page 5 with the following:
20        "(10) In the case of a corporation, for taxable years
21    beginning on or after January 1, 2011, and ending prior to
22    July 1, 2012 January 1, 2015, an amount equal to 7% of the
23    taxpayer's net income for the taxable year.
24        (11) In the case of a corporation, for taxable years
25    beginning prior to July 1, 2012 January 1, 2015, and ending

 

 

09700SB0405sam007- 3 -LRB097 04252 HLH 59177 a

1    after June 30, 2012 December 31, 2014, an amount equal to
2    the sum of (i) 7% of the taxpayer's net income for the
3    period prior to July 1, 2012 January 1, 2015, as calculated
4    under Section 202.5, and (ii) 4.8% 5.25% of the taxpayer's
5    net income for the period after June 30, 2012 December 31,
6    2014, as calculated under Section 202.5.
7        (12) In the case of a corporation, for taxable years
8    beginning on or after July 1, 2012 January 1, 2015, and
9    ending prior to January 1, 2025, an amount equal to 4.8%
10    5.25% of the taxpayer's net income for the taxable year.
11        (13) (Blank). In the case of a corporation, for taxable
12    years beginning prior to January 1, 2025, and ending after
13    December 31, 2024, an amount equal to the sum of (i) 5.25%
14    of the taxpayer's net income for the period prior to
15    January 1, 2025, as calculated under Section 202.5, and
16    (ii) 4.8% of the taxpayer's net income for the period after
17    December 31, 2024, as calculated under Section 202.5.
18        (14) (Blank). In the case of a corporation, for taxable
19    years beginning on or after January 1, 2025, an amount
20    equal to 4.8% of the taxpayer's net income for the taxable
21    year.".