SB 2016-031: Corporate Tax Reform Bill

[NeverAgain]

I am completely open for questions. This got bipartisan approval in my branch, and I hope it will get the same here.

If you are not a reader this basically lowers taxes on almost all small businesses, while paying for it with getting rid of abusable deductions by big corporations. This also creates 3 new corporate tax brackets to stop the current mass confusion with corporate tax and help simplify it. As said before, if you have any questions I am here.

On the matter of the cost, this will probably cost around 10B of upfront revenue (for the cost of the brackets over the next two years). But with clamping down on the unfair deductions and evasions, plus the enormous amount of GDP growth this will prosper from our businesses we could look at a huge increase in revenue.

[NeverAgain]

I'd want to see a slight cut for the 50-75K bracket, perhaps to 20%

Well, under the proposed bill it is cut to:
• 100K - 1M: 15%
• 1M - 10M: 21.5%
• 10M+: 28%


FYI, thank you, Speaker NeverAgain, for writing this. I can tell it took a lot of work, and I think it looks great. Just for clarification, on your proposed corporate taxes, would businesses under 100K not pay anything?

That is correct. As there are very few businesses in that range, I think it only fair that they are able to get a leg up before starting to pay their fair share. I thank you for your kind words, this was a hard thing to get done. I am just happy it will hopefully get passed!

[NeverAgain]

Again, if you have any comments or questions - please ask me.

[NeverAgain]

double unanimous .

Thanks Senate.