State Rep. Glenn Anderson, an occasional maverick Republican, just introduced a corporate income tax bill. See the text here.
It’s unclear whether his proposal, which also does away with the hated business-occupations tax, would lead to a net increase or decrease in state tax receipts. It might lead to a smaller taxable tax base, or not.
The Fall City lawmaker introduced both a bill and constitutional amendment today to limit the new corporate tax to 7 percent and get rid of the B&O. Senate Joint Resolution 4221 would put the question to the November ballot and House Bill 2032, is the that sets up the corporate tax and repeals the B&O.