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IN SB0584

Bill

Official Source

Status

Introduced

1/15/2013

Primary Sponsor

James Buck

Click for details

Origin

Senate

2013 Regular Session

AI Summary

  • Reduces the state individual adjusted gross income tax rate from 3.4% to 3.23% for tax years beginning in 2014
  • Further reduces the individual income tax rate to 3.06% for tax years beginning in 2015 and thereafter
  • Applies to adjusted gross income of Indiana residents and income derived from Indiana sources by nonresidents
  • Effective date of July 1, 2013
  • Corporate income tax rates remain unchanged under existing scheduled reductions (from 8.5% to 6.5% by July 2015)

Legislative Description

Individual income tax rate reduction.

Last Action

Senator R. Young removed as coauthor

1/22/2013

Committee Referrals

Tax and Fiscal Policy1/15/2013

Full Bill Text

No bill text available