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IN HB1327
Bill
Status
1/13/2011
Primary Sponsor
Gregory Steuerwald
Click for details
AI Summary
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Creates an annual one-week income tax withholding holiday for Indiana employees, beginning with pay periods starting on or after December 1 each year, effective for taxable years after December 31, 2011
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Employers must stop withholding state adjusted gross income tax from employee wages for that designated week, with specific rules for pay periods that begin after December 26 or are shorter than 7 days
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Establishes a corresponding annual tax credit for individuals equal to 1/52 of their adjusted gross income tax liability for the taxable year
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Amends IC 6-3-3-13 and IC 6-3-4-8 concerning state taxation procedures
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Bill introduced January 13, 2011, and referred to the House Committee on Ways and Means
Legislative Description
Income tax holiday.
Last Action
First reading: referred to Committee on Ways and Means
1/13/2011