Legislation

Allowing a subtraction modification under the State income tax for 50% of the business income received by the owner of a small business; providing that the subtraction may not exceed $50,000 for all of the owners of a small business; authorizing the owners of a small business to allocate the subtraction modification in any manner; applying the Act to taxable years beginning after December 31, 2014; etc.

Committees

Original:: Ways and Means Click to view Recorded Media

Details

Bill File Type: Regular

Effective Date(s): July 1, 2015

History

Legislation History
Chamber House Calendar Date 2/09/2015 Legislative Date 2/09/2015 Action First Reading Ways and Means Proceedings
Chamber House Calendar Date 2/12/2015 Legislative Date 2/12/2015 Action Hearing 3/06 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	2/09/2015	2/09/2015	First Reading Ways and Means
House	2/12/2015	2/12/2015	Hearing 3/06 at 1:00 p.m.

Documents

Date Posted	Document Name
2/10/2015	Text - First - Opportunity Bracket for Small Business

File Code

Subjects

Statutes