Non-profits, small banks and some other organizations would get tax relief under a bill that is now on its way to the governor.
House Bill 354 passed the House and Senate with bipartisan support following compromise in a conference committee.
Major provisions of the bill would eliminate the sales tax on nonprofit admission sales and allow taxation of remote sales by online retailers.
But it was a repeal of the state’s bank franchise tax that generated much of the floor debate on the bill. That provision would allow all banks in the state to instead pay corporate income tax beginning in 2021.