Special Session

By: Associated Press
By: Associated Press

State lawmakers will have to trek back toward Frankfort tomorrow for a special session of the General Assembly.

Governor Fletcher called the special session today.

Fletcher says the session will begin at 2 p.m. tomorrow. It's expected to run at least five days.

House and Senate lawmakers announced last week they had an agreement on a proposed 40 million dollar proposed fix to a problem created by the 2005 tax code overhaul. It imposed an "alternative minimum tax" calculation on gross receipts for small businesses.

Small businesses that take in a large amount of total receipts but have low profit margins ended up having to pay more in taxes. Traditionally, those companies would have paid little or no state taxes.

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