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2018 SESSION

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HB 678 Income tax, state; subtraction for all retirement income.

Introduced by: Brenda L. Pogge | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Individual income tax subtraction; all retirement income. Establishes an individual income tax subtraction for all retirement income, whether paid by federal or state government or a private entity. Under current law, retirement income is tax-exempt only if it is (i) federal social security or railroad retirement benefits or (ii) a distribution from a retirement plan that qualifies for tax-preferred status under the federal Internal Revenue Code, but only to the extent that such distribution is subject to income tax in another state.


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