SENATE AMENDMENT

    Bill No. SB 1682

    Amendment No. 1

                            CHAMBER ACTION
              Senate                               House
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11  The Committee on Commerce and Economic Opportunities

12  recommended the following amendment:

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14         Senate Amendment (with title amendment) 

15         On page 2, line 13, and on page 7, line 31, after the

16  period

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18  insert:  If a single-member limited liability company is

19  disregarded as an entity separate from its owner for federal

20  income tax purposes, its activities are, for purposes of

21  taxation under chapter 220, treated in the same manner as a

22  sole proprietorship, branch, or division of the owner.

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25  ================ T I T L E   A M E N D M E N T ===============

26  And the title is amended as follows:

27         On page 1, line 5, and on page 1, line 15, after the

28  semicolon

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30  insert:

31         providing for the tax treatment of activities

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    4:27 PM   03/30/99                                 s1682.cm.01




                                                  SENATE AMENDMENT

    Bill No. SB 1682

    Amendment No. 1





 1         of certain single-member limited liability

 2         companies;

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