This bill aims to amend the Bank and Trust Company Shares Tax by refining how the taxable amount is determined and by excluding United States obligations from being taxed. The main provisions focus on clarifying the calculation of the taxable amount for bank and trust company shares while exempting United States obligations from taxation under this law. This amendment may impact the tax liabilities of banks and trust companies holding such shares, potentially leading to changes in their tax obligations.
2023-06-07: Referred to FINANCE
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