Legislation

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, 2013.

Committees

Original:: Ways and Means

Details

Bill File Type: Regular

Effective Date(s): July 1, 2014

History

Legislation History
Chamber House Calendar Date 2/11/2014 Legislative Date 2/12/2014 Action First Reading House Rules and Executive Nominations Proceedings
Chamber House Calendar Date 2/24/2014 Legislative Date 2/26/2014 Action Rereferred to Ways and Means Proceedings
Chamber House Calendar Date 2/26/2014 Legislative Date 2/26/2014 Action Hearing 3/11 at 1:00 p.m. Proceedings
Chamber House Calendar Date 3/10/2014 Legislative Date 3/10/2014 Action Hearing cancelled Proceedings
Chamber House Calendar Date 3/13/2014 Legislative Date 3/14/2014 Action Unfavorable Report by Ways and Means; Withdrawn Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	2/11/2014	2/12/2014	First Reading House Rules and Executive Nominations
House	2/24/2014	2/26/2014	Rereferred to Ways and Means
House	2/26/2014	2/26/2014	Hearing 3/11 at 1:00 p.m.
House	3/10/2014	3/10/2014	Hearing cancelled
House	3/13/2014	3/14/2014	Unfavorable Report by Ways and Means; Withdrawn

Documents

Date Posted	Document Name
2/12/2014	Text - First - Income Tax Credit - Pass-Through Entities
3/13/2014	Vote - House - Committee - Ways and Means

File Code

Subjects

Statutes