Text: SF00194                           Text: SF00196
Text: SF00100 - SF00199                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

Senate File 195

Partial Bill History

• Bill Introduced: S.J. 364
• Committee Report Issued: S.J. 720
• 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-four 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 eight 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 three-tenths percent.
  1 11    d.  On all taxable income exceeding four thousand dollars
  1 12 but not exceeding nine thousand dollars, five four and twenty-
  1 13 five hundredths percent.
  1 14    e.  On all taxable income exceeding nine thousand dollars
  1 15 but not exceeding fifteen thousand dollars, six five and
  1 16 eight-tenths seventy-eight hundredths percent.
  1 17    f.  On all taxable income exceeding fifteen thousand
  1 18 dollars but not exceeding twenty thousand dollars, seven six
  1 19 and two-tenths twelve-hundredths percent.
  1 20    g.  On all taxable income exceeding twenty thousand dollars
  1 21 but not exceeding thirty thousand dollars, seven six and
  1 22 fifty-five forty-two hundredths percent.
  1 23    h.  On all taxable income exceeding thirty thousand dollars
  1 24 but not exceeding forty-five thousand dollars, eight seven and
  1 25 eight-tenths forty-eight hundredths percent.
  1 26    i.  On all taxable income exceeding forty-five thousand
  1 27 dollars, nine eight and ninety-eight forty-eight hundredths
  1 28 percent.
  1 29    Sec. 2.  This Act applies retroactively to January 1, 1997,
  1 30 for tax years beginning on or after that date.  
  1 31                           EXPLANATION
  1 32    The bill reduces the state individual income tax rates by
  1 33 15 percent.  The lowest and highest rates under present law
  1 34 are .4 percent and 9.98 percent, respectively.  Under the bill
  1 35 these figures would be .34 percent and 8.48 percent.
  2  1    The bill applies retroactively to January 1, 1997, for tax
  2  2 years beginning on or after that date.  
  2  3 LSB 2198SS 77
  2  4 mg/jw/5
     

Text: SF00194                           Text: SF00196
Text: SF00100 - SF00199                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

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