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2006 SESSION

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HB 483 Income tax, state; deduction for those age 62 and over.

Introduced by: Jeffrey M. Frederick | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; age deduction.  Reinstates the $6,000 and $12,000 deduction for taxpayers aged 62 through 64, and 65 and older, respectively, for taxable years beginning on and after January 1, 2006. However, individuals with taxable income exceeding $150,000 and married couples with taxable income exceeding $250,000 are not eligible for the deduction.


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