HB 1535 Summary

• Allows individuals who work in a county different from their residence to pay county income taxes (adjusted gross income tax, county option income tax, or county economic development income tax) at one-fourth (1/4) the rate imposed on residents of that work county.

• Excludes certain capital improvement tax rates from the calculation of the reduced tax rate for nonresident workers.

• Provides a tax credit against taxes owed in an individual's county of residence equal to the amount of taxes paid to the county where they maintain their principal place of employment or business.

• Applies to county taxpayers who reside in a county with an active local income tax and work in a different county that also has an active local income tax.

• Effective January 1, 2014 for all taxable years and employer remittances made after December 31, 2013.