The General Assembly repealed the 1/10 of 1% capital assets of business corporations franchise tax, and the Governor has signed the repeal, P.A. 101-0009. The tax disappears for amounts due below $30 in 2020, below $1,000 in 2021, $10,000 in 2022, $100,000 in 2023, and all amounts in 2024. The tax comes back in 2026 unless the repeal is renewed.

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