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IN SB0336
Bill
Status
Introduced
1/8/2013
Primary Sponsor
Dennis Kruse
Click for details
AI Summary
- Increases the maximum state income tax deduction for federal civil service annuity income from $2,000 to $16,000 per taxable year
- Deduction applies to the first $16,000 of federal civil service annuity income included in adjusted gross income under the Internal Revenue Code
- Deduction amount is reduced by the total Social Security benefits and railroad retirement benefits received during the taxable year
- Individual must be at least 62 years of age before the end of the taxable year to qualify for the deduction
- Effective for taxable years beginning after December 31, 2013
Legislative Description
Taxation of civil service annuities.
Last Action
Senator R. Young added as coauthor
2/11/2013
Committee Referrals
Appropriations1/8/2013
Full Bill Text
No bill text available