2011 Regular Session
|At the request of:|
|Bill Title:||Relating to personal income taxation; prescribing an effective date.|
Decreases tax rates for individuals with taxable income above $125,000 for tax years beginning on or after January 1, 2012.
Decreases tax liability for certain taxpayers by removing phaseout of subtraction for federal income taxes paid for taxpayer with federal adjusted gross income of $125,000 or more for individual return and $250,000 or more for joint return. Restores subtraction for taxpayer with adjusted gross income of $145,000 or more for individual return and $290,000 or more for joint return. Applies to tax years beginning on or after January 1, 2012. Takes effect on 91st day following adjournment sine die.
|Fiscal Impact:||May Have Fiscal Impact, But No Statement Yet Issued|
|Revenue Impact:||May Have Revenue Impact, But No Statement Yet Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||In House Committee|
|Current Committee:||House Committee On Revenue|
|Potential Conflicts of Interest/Vote Explanations:||Potential Conflicts of Interest/Vote Explanation Documents|