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IN HB1112
Bill
Status
1/8/2015
Primary Sponsor
Christina Hale
Click for details
AI Summary
HB 1112 Summary
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Establishes a tax credit against adjusted gross income tax liability for veterinary services providers who perform spay/neuter procedures on animals at no cost to owners.
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Defines "veterinary services provider" as either a sole proprietor veterinarian or a professional services corporation/business entity employing a veterinarian providing veterinary services.
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Tax credit amount equals the lesser of: (1) total number of free spay/neuter procedures multiplied by the provider's average charge for such procedures multiplied by 3.4%, or (2) $3,700 per taxable year.
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Credit cannot exceed the taxpayer's adjusted gross income tax liability for the year and cannot be carried forward, carried back, or refunded if unused.
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Applies retroactively to taxable years beginning after December 31, 2014, and expires January 1, 2018.
Legislative Description
Veterinarian tax credit. Provides a tax credit against adjusted gross income tax liability of a veterinary services provider that performs a spay/neuter procedure on an animal at no cost to the owner of the animal. Defines "veterinary services provider" as a: (1) veterinarian, if the veterinarian provides veterinary services as a sole proprietor; or (2) professional services corporation or other business entity, if a veterinarian provides veterinary services through the veterinarian's affiliation with the professional services corporation or other business entity. Specifies that the amount of the credit is the lesser of: (1) an amount equal to the total number
Last Action
First Reading: referred to Committee on Ways and Means
1/8/2015