SB2522sam001 97TH GENERAL ASSEMBLY

Sen. Kyle McCarter

Filed: 2/21/2012

09700SB2522sam001 LRB097 14129 HLH 65855 a

AMENDMENT TO SENATE BILL 2522

AMENDMENT NO. ______. Amend Senate Bill 2522 on page 1, line 5, by replacing "Sections 201 and 207" with "Section 201"; and

on page 5, by replacing lines 1 through 17 with the following:

"(10) In the case of a corporation, for taxable years beginning on or after January 1, 2011, and ending prior to January 1, 2015, an amount equal to 7% of the taxpayer's net income for the taxable year.

(11) In the case of a corporation, for taxable years beginning prior to January 1, 2015, and ending after December 31, 2014, an amount equal to the sum of (i) 7% of the taxpayer's net income for the period prior to January 1, 2015, as calculated under Section 202.5, and (ii) 4.8% 5.25% of the taxpayer's net income for the period after December 31, 2014, as calculated under Section 202.5.

(12) In the case of a corporation, for taxable years beginning on or after January 1, 2015, and ending prior to January 1, 2025, an amount equal to 4.8% 5.25% of the taxpayer's net income for the taxable year."; and

by deleting everything from line 23 on page 36 through line 13 on page 40.