What's New

Submitted by UCS on August 3, 2020

California
On June 29, 2020, California Assembly Bill 85 was passed and signed by the Governor, extending the First Year $800 Minimum Franchise Tax Exemption to LLCs, LPs, and LLPs, effective for the period starting January 1, 2021 and ending December 31, 2023.

The text of the bill is available at here.

Louisiana
On July 13, 2020, Louisiana Senate Bill 6 was passed and signed by the Governor, suspending the initial corporation franchise tax and the corporation franchise tax on the first $300,000 of taxable capital for taxable periods beginning between July 1, 2020 and June 30, 2021.

The text of the bill is available here.

Nebraska
Effective 7/20/2020, Legislative Bill 808 provides for the ratification of defective corporate acts, among other things.

The text of the bill is available here.

Tennessee
On July 2, 2020, Tennessee Senate Bill 1754 was signed/enacted, amending the requirements for business entity forms, formats, executions, and providing for general housekeeping.

The text of the bill is available here.

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