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IN SB0357
Bill
Status
1/10/2017
Primary Sponsor
Joseph Zakas
Click for details
AI Summary
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Creates an income tax credit for individuals who pay tolls on the Indiana toll road for nonbusiness purposes, effective January 1, 2018.
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Credit amount equals the lesser of $300 or the total tolls paid by the individual during the taxable year.
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Credit cannot exceed the individual's adjusted gross income tax liability reduced by all other allowable credits.
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Individuals must claim the credit on their annual state tax return and provide all information the department requires to calculate the credit.
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The credit applies to taxable years beginning after December 31, 2017, and expires January 1, 2022.
Legislative Description
Income tax credit for toll road charges. Provides an income tax credit to individuals who pay tolls to drive on the Indiana toll road for a nonbusiness purpose. Provides that the amount of the tax credit may not exceed the lesser of $300 or the amount of tolls paid by an individual during the taxable year. Provides that the tax credit may not exceed an individual's adjusted gross income tax liability.
Last Action
First reading: referred to Committee on Homeland Security and Transportation
1/10/2017