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2004 SESSION

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HB 811 Taxes; flat rate on individual & corporate income, increases standard deduction & increases RS&UT.

Introduced by: Clifford L. Athey, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Taxation of individuals and corporations. Provides a flat rate of 5.5 percent for both the individual and corporate income taxes. The bill also increases the standard deduction for individual income tax purposes to $24,000 for couples and $12,000 for individuals. The sales and use tax rate would be increased to 5.5 percent. The bill has a reenactment clause so it will be effective in 2006 if it passes during this session and is reenacted in 2005.

FULL TEXT

• 01/14/04  House: Presented & ordered printed, prefiled 01/14/04 046628220  pdf | impact statement

HISTORY

• 01/14/04  House: Presented & ordered printed, prefiled 01/14/04 046628220
• 01/14/04  House: Referred to Committee on Finance
• 01/15/04  House: Assigned to Finance sub-committee: 2
• 02/04/04  House: Continued to 2005 in Finance (22-Y 0-N)