Repeals income modifications for the bank franchise tax related to bad debts.

This bill repeals income modifications for the bank franchise tax concerning bad debts. It amends sections 10-4-9.1, 10-4-9.2, 10-4-9.3, 10-4-9.4, 10-4-39, 10-6-157, and 10-43-10.1, and subdivisions 10-6A-1(7), 10-6B-1(5), 10-18A-1(6), 10-43-10.3(6), 10-43-10.3(5), and 10-45A-1(5). The changes affect financial institutions, particularly those making elections under 26 USC § 1362(a) and those organized as limited liability companies.

Repeals income modifications for the bank franchise tax related to bad debts.

This bill repeals income modifications for the bank franchise tax concerning bad debts. It amends sections 10-4-9.1, 10-4-9.2, 10-4-9.3, 10-4-9.4, 10-4-39, 10-6-157, and 10-43-10.1, and subdivisions 10-6A-1(7), 10-6B-1(5), 10-18A-1(6), 10-43-10.3(6), 10-43-10.3(5), and 10-45A-1(5). The changes affect financial institutions, particularly those making elections under 26 USC § 1362(a) and those organized as limited liability companies.