SB 523

Altering the tax imposed on certain pass-through entities; requiring each pass-through entity to pay the tax imposed with respect to certain shares of certain nonresident and nonresident entity members of the pass-through entity; authorizing a pass-through entity to elect to pay the tax imposed with respect to certain shares of all resident members of the pass-through entity; providing for the calculation of the tax; prohibiting the tax required to be paid for any taxable year from exceeding a certain amount; etc.

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