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IN HB1475
Bill
Status
1/15/2019
Primary Sponsor
David Abbott
Click for details
AI Summary
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Creates a state income tax credit for veterinary services providers who perform free spay-neuter procedures on dogs and cats
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Credit equals 5% of the provider's average spay-neuter fee multiplied by the number of free procedures performed, capped at $2,000 per year
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Eligible providers include sole proprietor veterinarians and professional services corporations or business entities employing veterinarians
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Pass-through entities (partnerships, LLCs, trusts) may distribute the credit proportionally to shareholders, partners, or members
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Effective retroactively to January 1, 2019, with the enabling section expiring January 1, 2022; unused credits cannot be carried forward, carried back, or refunded
Legislative Description
Veterinarian tax credit. Provides a tax credit against the adjusted gross income tax liability of a veterinary services provider that performs a spay-neuter procedure on a companion animal at no cost to the owner of the companion animal. Defines a "companion animal" as a dog or a cat. 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
Last Action
First reading: referred to Committee on Ways and Means
1/15/2019