Vote Smart's Synopsis:

Vote on a motion to declare a bill inexpedient to legislate that requires certain non-profit organizations to pay the business enterprise tax, effective July 1, 2014.

Highlights:

• Amends the definition of “business enterprise” to include nonprofit charitable organizations under section 501(c)(3) of the Internal Revenue Service Code (Sec. 2).

• Requires the following business enterprises to file an annual tax return, including nonprofit 501(c)(3) organizations (Sec. 3):
• Organizations with gross operating expenditures greater than $1.50 million during the taxable period; or
• Organizations with an enterprise value tax base greater than $750,000.

• Reduces the tax rate for a business enterprise from 0.75 of one percent to 0.68 of one percent of the taxable enterprise value tax base (Sec. 3).

Full Bill Text