House Bill 265
was approved by the House in a 26-13 vote. HB 265 will raise the annual tax on Limited Liability Companies, Limited
Partnerships and General Partnerships from $250 to $300. The minimum
annual Corporation Finance Tax would be increased from $75 to $175.
Combined, the tax hikes would take an additional $51 million annually
HB 265 now goes to the Senate for a vote, it’s important that you contact your Senator today and ask him/her to OPPOSE HB 265.
In the governor’s budget address he said this tax will not burden local
businesses. Your Senator need to hear that you will be impacted.