Bill Type
Congress Name
Long Title
AN ACT ADOPTING THE GROSS INCOME TAXATION FOR CORPORATIONS AND INDIVIDUALS ENGAGE IN TRADE OR BUSINESS AND/OR PRACTICE OF PROFESSION, AMENDING FOR THE PURPOSE PERTINENT PROVISIONS OF TITLE II OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, AND FOR OTHER PURPOSES
Date filed
July 15, 2004
Scope
Legislative History
| House Bill/Resolution NO. HB01470 | |
| FULL TITLE : AN ACT ADOPTING THE GROSS INCOME TAXATION FOR CORPORATIONS AND INDIVIDUALS ENGAGE IN TRADE OR BUSINESS AND/OR PRACTICE OF PROFESSION, AMENDING FOR THE PURPOSE PERTINENT PROVISIONS OF TITLE II OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, AND FOR OTHER PURPOSES | |
| ABSTRACT : The bill defines gross compensation income as "all payments received in an employer-employee relationship like salaries, bonuses, allowances, ect." Defines gross income as "gross sales or receipts derived from business or practice of a profession less sales returns, discounts, allowances, cost of goods or services or expenses incurred to produce the merchandize." | |
| PRINCIPAL AUTHOR/S : SINGSON, ERIC D. | |
| DATE FILED : 2004-07-15 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Codilla (021 ) | 2. Amin (033 ) |
| 3. Romualdo (030 ) | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2004-08-03 |
Abstract
The bill defines gross compensation income as "all payments received in an employer-employee relationship like salaries, bonuses, allowances, ect." Defines gross income as "gross sales or receipts derived from business or practice of a profession less sales returns, discounts, allowances, cost of goods or services or expenses incurred to produce the merchandize."'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.