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2016 SESSION

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SB 570 Income tax, state; reduces imposition of personal tax by increasing maximum income within bracket.

Introduced by: Bryce E. Reeves | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Personal income tax relief. Reduces imposition of the personal income tax by increasing the maximum income within each bracket by $1,000 and phasing out the lowest income bracket.

Beginning January 1, 2017, the four brackets would be: 0% on the first $4,000 of income, 3% on income in excess of $4,000 but not in excess of $6,000, 5% on income in excess of $6,000 but not in excess of $18,000, and 5.75% on income in excess of $18,000.

FULL TEXT

• 01/13/16  Senate: Prefiled and ordered printed; offered 01/13/16 16100303D  pdf | impact statement

HISTORY

• 01/13/16  Senate: Prefiled and ordered printed; offered 01/13/16 16100303D
• 01/13/16  Senate: Referred to Committee on Finance
• 02/09/16  Senate: Passed by indefinitely in Finance (11-Y 4-N)