Text: SF00157 Text: SF00159 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.7, Code 1997, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 35. Subtract unemployment compensation
1 4 received during the tax year to the extent included pursuant
1 5 to section 85 of the Internal Revenue Code.
1 6 Sec. 2. APPLICABILITY DATE. This Act applies
1 7 retroactively to January 1, 1997, for tax years beginning on
1 8 or after that date.
1 9 EXPLANATION
1 10 Presently, benefits received as unemployment compensation
1 11 are taxed for federal and state individual income tax
1 12 purposes. The bill exempts these benefits from the state
1 13 individual income tax.
1 14 The bill applies retroactively to January 1, 1997, for tax
1 15 years beginning on or after that date.
1 16 LSB 1924SS 77
1 17 mg/jw/5
Text: SF00157 Text: SF00159 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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