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2006 SESSION

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HB 786 Income tax, state; credit for purchase of long-term care insurance.

Introduced by: R. Steven Landes | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Individual income taxes; credit for purchase of long-term care insurance.  Provides a credit against individual income taxes for certain long-term care insurance premiums paid by the individual during the taxable year. The amount of the credit shall equal 15% of the amount paid during the taxable year by the individual in long-term care insurance premiums for long-term care insurance coverage for himself, not to exceed over the life of any policy 15% of the amount of the first 12 months of premiums.  The credit would be available beginning with the 2006 taxable year. Any unused credit may be carried over in the next five taxable years.


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