House Labor and Commerce Debates HB 350: Proposed Income Tax on High-Revenue S-Corps and LLCs

House Labor and Commerce Debates HB 350: Proposed Income Tax on High-Revenue S-Corps and LLCs

During Monday’s House Labor and Commerce Committee meeting, lawmakers discussed HB350, a measure sponsored by Representative Fields (D-Anchorage) that would impose a state income tax on S-corporations and LLCs generating over $25 million annually in taxable income. The bill sparked debates on tax equity, economic competitiveness, and the state’s outdated fiscal framework, reflecting broader concerns […] The post House Labor and Commerce Debates …