§23-93 Review for 2021 and every fifth year thereafter. (a) The credits, exclusions, and deductions under the income tax and financial institutions tax listed in subsection (c) shall be reviewed in 2021 and every fifth year thereafter.
(b) The auditor shall submit the findings and recommendations of the reviews to the legislature and governor at least twenty days prior to the convening of the immediately following regular session.
(c) This section shall apply to the following:
(1) Section 235-7.3--Exclusion of royalties and other income derived from a patent, copyright, or trade secret of a qualified high technology business;
(2) Section 235-9.5--Exclusion for income and proceeds from stock options or stocks of a qualified high technology business or a holding company for a qualified high technology business;
(3) Sections 235-17.5 and 241-4.4--Credit for capital infrastructure costs;
(4) Sections 235-110.7 and 241-4.5--Credit for capital goods used by a trade or business;
(5) Section 235-110.91--Credit for research activity;
(6) Section 235-110.3--Credit for ethanol facility; and
(7) Section 241-3.5--Deduction for adjusted eligible net income of an international banking facility. [L 2016, c 245, pt of §2 ; am L 2017, c 177, §16]
Note
Section 235-17.5, referred to in subsection (c)(3), is repealed.
Section 235-110.3, referred to in subsection (c)(6), is repealed.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.