HOUSE BILL 168

Sponsored By:

Chairman, Ways and Means Committee (Departmental - Comptroller)

Entitled:

Income Tax - Subtractions from Federal Adjusted Gross Income - Installment Sale Income

Synopsis:

Authorizing a subtraction modification for gain on an installment sale that is included in federal adjusted gross income if the disposition occurred in a prior taxable year and the taxpayer paid state tax on income on the full amount of the gain to the state where the property was located.

Legislative History

House Action

1/15

First Reading Ways and Means

Hearing 1/21 at 11:00 a.m.

2/3

Favorable with Amendments Report by Ways and Means

2/4

Favorable with Amendments

Special Order 2/5 (Delegate Hixson) Adopted

2/5

Recommit to Committee Ways and Means (Delegate Hixson)

3/18

Unfavorable Report by Ways and Means

Senate Action

No Action

Sponsored by:

Chairman, Ways & Means Comm.

Departmental

Bill indexed under the following Subjects:

CREDIT

EXEMPTIONS

INCOME TAX

Bill affects the following Statutes:

Tax - General

( 10-207 , 10-207 )

Documents:

Bill Text:

First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments:

House

Number: 595937/1 (PDF) Offered on: FEBRUARY 4, 1997 at: 10:30 Status: Special Ordered