Legislation

Title: Income Tax - Subtraction Modification - Nonpassive Income of a Pass-Through Entity
Sponsored by: Senator Kasemeyer
Status: In the Senate - Hearing 2/26 at 1:30 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Allowing a subtraction modification under the State income tax for up to $50,000 of nonpassive income attributable to a pass-through entity; providing that the subtraction applies only to nonpassive income of a pass-through entity if specified conditions are met; and applying the Act to taxable years beginning after December 31, 2013.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Details

Bill File Type: Regular

Effective Date(s): July 1, 2014

History

Legislation History
Chamber Senate Calendar Date 2/03/2014 Legislative Date 1/31/2014 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 2/05/2014 Legislative Date 2/05/2014 Action Hearing 3/12 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 2/14/2014 Legislative Date 2/14/2014 Action Hearing cancelled Proceedings
Chamber Senate Calendar Date 2/14/2014 Legislative Date 2/14/2014 Action Hearing 2/26 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 2/19/2014 Legislative Date 2/19/2014 Action Hearing cancelled Proceedings
Chamber Senate Calendar Date 2/19/2014 Legislative Date 2/19/2014 Action Hearing 2/26 at 1:30 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	2/03/2014	1/31/2014	First Reading Budget and Taxation
Senate	2/05/2014	2/05/2014	Hearing 3/12 at 1:00 p.m.
Senate	2/14/2014	2/14/2014	Hearing cancelled
Senate	2/14/2014	2/14/2014	Hearing 2/26 at 1:00 p.m.
Senate	2/19/2014	2/19/2014	Hearing cancelled
Senate	2/19/2014	2/19/2014	Hearing 2/26 at 1:30 p.m.

Documents

Date Posted	Document Name
2/04/2014	Text - First - Income Tax - Subtraction Modification - Nonpassive Income of a Pass-Through Entity

File Code

Subjects

Statutes