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2013 SESSION

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HB 1155 Income tax, state; taxation of trusts established for disabled individuals.

Introduced by: Eileen Filler-Corn | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Taxation of trusts established for disabled individuals.  Establishes an individual income tax deduction not to exceed $2,000 for the fair market value of contributions made during the taxable year to certain supplemental needs trusts established for disabled individuals. The bill also would exempt from taxation the income earned by such trusts. The bill would become effective for taxable years beginning on or after January 1, 2012.


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