Bill Status of HB3114 100th General Assembly
Short Description: CORPORATIONS-FRANCHISE TAX
Rep. David Harris, Nick Sauer, Brian W. Stewart, Brad Halbrook and Allen Skillicorn
| 1/8/2019||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Business Corporation Act of 1983. Increases from $200 to $500 the minimum base penalty for transacting business in this State without authority. Provides that a corporation that effects a change in the number of issued shares or the amount of paid-in capital prior to January 1, 2018 that has not been reported shall file a report regarding the issued shares or paid-in capital. Provides that franchise taxes are not payable on or after January 1, 2018. Provides that on and after January 1, 2018, a corporation that fails to file an annual report shall pay a penalty of $50 plus $10 for each calendar month or part of the month that the report is delinquent.