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IN HB1217
Bill
Status
Introduced
1/11/2016
Primary Sponsor
Jim Lucas
Click for details
AI Summary
- Creates an Indiana state income tax credit for taxpayers who incur expenses receiving qualified firearms instruction from National Rifle Association certified instructors.
- Maximum credit amounts are $100 for individuals filing single returns and $200 for married couples filing joint returns.
- Credit is limited to the taxpayer's actual state income tax liability and cannot exceed qualified expenses incurred in the taxable year.
- Taxpayers must claim the credit through the department and provide proof of qualified expenses and other information the department requires.
- Unused credit amounts cannot be carried over, carried back, or refunded to the taxpayer.
- Effective for taxable years beginning after December 31, 2016.
Legislative Description
Income tax credit for firearms instruction. Provides a state income tax credit to taxpayers (individuals filing single tax returns or married couples filing joint tax returns) who incur expenses in receiving qualified firearms instruction. Provides that the credit is equal to the amount of the incurred expenses. Provides that the maximum amount allowed as a credit is $100 for individuals filing single returns or $200 for married couples filing joint returns. Provides that a tax credit may not exceed the taxpayer's state income tax liability. Provides that a taxpayer is not entitled to a carryover, carryback, or refund of any
Last Action
First reading: referred to Committee on Ways and Means
1/11/2016
Committee Referrals
Ways and Means1/11/2016
Full Bill Text
No bill text available