IN SB0246 | 2010 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 11 2010 - 25% progression, died in committee
Action: 2010-01-11 - First reading: referred to Committee on Tax and Fiscal Policy
Pending: Senate Tax and Fiscal Policy Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 11 2010 - 25% progression, died in committee
Action: 2010-01-11 - First reading: referred to Committee on Tax and Fiscal Policy
Pending: Senate Tax and Fiscal Policy Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Provides for a biennial reduction in the state adjusted gross income tax rate on residents, nonresidents, and corporations if year-over-year revenue from the adjusted gross income tax exceeds certain amounts. Provides that the minimum rate is 2.9% (3.4% for 2010) for persons and 8% (8.5% for 2010) for corporations. Requires the budget agency to make the determination before July 1 of each even-numbered year and for the rate reduction to take effect in taxable years beginning in the immediately following odd-numbered year.
Title
Income tax rate adjustment.
Sponsors
| Sen. James Buck [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2010-01-11 | First reading: referred to Committee on Tax and Fiscal Policy | |
| 2010-01-11 | Authored by Senator Buck |
Indiana State Sources
| Type | Source |
|---|---|
| Summary | http://www.in.gov/apps/lsa/session/billwatch/billinfo?year=2010&session=1&request=getBill&doctype=SB&docno=0246 |
| Text | http://www.in.gov/legislative/bills/2010/IN/IN0246.1.html |
