Text: HF00315                           Text: HF00317
Text: HF00300 - HF00399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

House File 316

Partial Bill History

• Bill Introduced: H.J. 378
• Complete Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 422.5, subsection 1, paragraphs a
  1  2 through i, Code 1997, are amended to read as follows:
  1  3    a.  On all taxable income from zero through one thousand
  1  4 dollars, four-tenths thirty-two hundredths of one percent.
  1  5    b.  On all taxable income exceeding one thousand dollars
  1  6 but not exceeding two thousand dollars, eight-tenths sixty-
  1  7 four hundredths of one percent.
  1  8    c.  On all taxable income exceeding two thousand dollars
  1  9 but not exceeding four thousand dollars, two and seven-tenths
  1 10 sixteen hundredths percent.
  1 11    d.  On all taxable income exceeding four thousand dollars
  1 12 but not exceeding nine thousand dollars, five four percent.
  1 13    e.  On all taxable income exceeding nine thousand dollars
  1 14 but not exceeding fifteen thousand dollars, six five and
  1 15 eight-tenths forty-four hundredths percent.
  1 16    f.  On all taxable income exceeding fifteen thousand
  1 17 dollars but not exceeding twenty thousand dollars, seven five
  1 18 and two-tenths seventy-six hundredths percent.
  1 19    g.  On all taxable income exceeding twenty thousand dollars
  1 20 but not exceeding thirty thousand dollars, seven six and
  1 21 fifty-five four hundredths percent.
  1 22    h.  On all taxable income exceeding thirty thousand dollars
  1 23 but not exceeding forty-five thousand dollars, eight seven and
  1 24 eight-tenths four hundredths percent.
  1 25    i.  On all taxable income exceeding forty-five thousand
  1 26 dollars, nine seven and ninety-eight hundredths percent.
  1 27    Sec. 2.  This Act applies retroactively to January 1, 1997,
  1 28 for tax years beginning on or after that date.  
  1 29                           EXPLANATION
  1 30    The bill reduces the state individual income tax rates by
  1 31 20 percent.  The lowest and highest rates under present law
  1 32 are .4 percent and 9.98 percent, respectively.  Under the bill
  1 33 these figures would be .32 percent and 7.98 percent.
  1 34    The bill applies retroactively to January 1, 1997, for tax
  1 35 years beginning on or after that date.  
  2  1 LSB 1953HH 77
  2  2 mg/sc/14
     

Text: HF00315                           Text: HF00317
Text: HF00300 - HF00399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

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