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IN SB0618

Bill

Official Source

Status

Introduced

1/17/2013

Primary Sponsor

Dennis Kruse

Click for details

Origin

Senate

2013 Regular Session

AI Summary

  • Eliminates the Indiana add-back requirement for charitable distributions from Individual Retirement Accounts (IRAs) that are excluded from federal gross income under Internal Revenue Code Section 408(d)(8)
  • Allows Indiana taxpayers to receive the same tax benefit for qualified charitable IRA distributions at the state level as they receive federally
  • Applies to taxable years beginning after December 31, 2013, with an effective date of January 1, 2014
  • Amends IC 6-3-1-3.5, which defines "adjusted gross income" for Indiana individual income tax purposes

Legislative Description

Individual adjusted gross income tax.

Last Action

First reading: referred to Committee on Tax and Fiscal Policy

1/17/2013

Committee Referrals

Tax and Fiscal Policy1/17/2013

Full Bill Text

No bill text available