Legislation
Synopsis
Allowing an individual a credit against the State income tax equal to the amount by which the tax, when applying a specified effective tax rate, on the individual's distributive share of pass-through entity income exceeds the tax on the individual's distributive share of pass-through entity income when applying a tax rate of 2.875%; providing that an individual may not claim the credit if the individual's effective tax rate is less than 2.875%; and applying the Act to taxable years beginning after December 31, 2014.
Committees
Details
Introduced in a prior session as: HB1384 Session: 2014 Regular Session
Bill File Type: Regular
Effective Date(s): July 1, 2015
History
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Documents
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Date Posted | Document Name |
---|---|
2/05/2015 | Text - First - Income Tax Credit - Pass-Through Entities |
File Code
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Subjects
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Statutes
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(
10-737 )
Last Updated: 2/3/2020 2:29 PM