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AK HB329

Bill

Official Source

Status

Introduced

2/17/2012

Primary Sponsor

Kyle Johansen

Click for details

Origin

House of Representatives

27th Legislature

AI Summary

  • Simplifies Alaska corporate income tax brackets from nine tiers to four tiers for taxable income of $50,000 and above
  • Reduces tax rates for corporations with income between $50,000 and $100,000 from 6 percent to 3 percent on income over $50,000
  • Reduces top marginal tax rate from 9.4 percent to 6 percent for corporations with income over $100,000
  • Applies to tax years beginning after December 31, 2012, with an effective date of January 1, 2013
  • Eliminates previous graduated brackets for income under $50,000, replacing them with a flat 1 percent rate for income less than $50,000

Legislative Description

Corporate Income Tax

Taxation

Last Action

REFERRED TO LABOR & COMMERCE

2/17/2012

Committee Referrals

Labor & Commerce2/17/2012

Full Bill Text

No bill text available