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2018 Regular Session



Income Tax – Subtraction Modification – Entities That Provide Paid Sick Leave

Sponsored by:

Senator Serafini


In the Senate - Unfavorable Report by Budget and Taxation; Withdrawn

Synopsis:Allowing a subtraction modification under the State income tax for the first $20,000 of nonpassive income received by a member of certain pass-through entities that meet certain requirements; providing that the subtraction modification applies only to the nonpassive income of a member of an eligible pass-through entity if certain conditions are met; providing that certain individuals and married couples with federal adjusted gross income in excess of certain amounts are not eligible for the subtraction modification; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Senator Serafini
Additional Facts:Bill File Type: Regular
Effective Date(s): July 1, 2018
Budget and Taxation
Broad Subject(s):Taxes - Income
Private Sector Labor and Industry
Narrow Subject(s):Business Trusts
Corporations -see also- Municipal Corps; Public Corps & Inst
Income Tax
Limited Liability Companies
Work, Labor and Employment -see also- Col Barg; Holiday; etc
Statutes:Article - Tax - General

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March 6, 2018 1:10 P.M.