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ing the gross receipts tax, Allen’s proposal would reduce income of localities by $750 million over a fiveyear period. His plan calls for replacing that revenie with state funds.
Earlier this week a joint SenateHouse subcommittee recommended an alternate plan that would maintain the tax but exempt businsses earning an auual revenie of $100,000 or less. Instead, these businesses would pay a maximum $50 fee.
The net effect of the subcommittee’s proposal would eliminate about 75 percent of the small businesses from having to pay the tax. Revenues in larger localities would be re
87.4%