Text: H01569 Text: H01571 Text: H01500 - H01599 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 701 as follows: 1 2 #1. Page 3, by inserting after line 1 the 1 3 following: 1 4 "Sec. . Section 422.9, subsection 1, Code 2003, 1 5 is amended to read as follows: 1 6 1. An optional standard deduction, after deduction 1 7 of federal income tax, equal to one thousand two 1 8 hundred thirty dollars for a married person who files 1 9 separately or a single person or equal to three 1 10 thousand thirty dollars for a husband and wife who 1 11 file a joint return, a surviving spouse, or an 1 12 unmarried head of household. The optional standard 1 13 deduction shall not exceed the amount remaining after 1 14 deduction of the federal income tax. The amount of 1 15 federal income taxes deducted shall not exceed the 1 16 amount as computed under subsection 2, paragraph "b". 1 17 Sec. . Section 422.9, subsection 2, paragraph 1 18 b, Code 2003, is amended by striking the paragraph and 1 19 inserting in lieu thereof the following: 1 20 b. Add the amount of federal income taxes paid in 1 21 a tax year beginning on or after January 1 of the 1 22 calendar year in which this Act takes effect, but 1 23 before January 1 three years following, to the extent 1 24 the payment is for a tax year beginning prior to 1 25 January 1 of the calendar year in which this Act takes 1 26 effect. Subtract the amount of federal income tax 1 27 refunds received in a tax year beginning on or after 1 28 January 1 of the calendar year in which this Act takes 1 29 effect, but before January 1 three years following, to 1 30 the extent that the federal income tax was deducted on 1 31 an Iowa individual income tax return for a tax year 1 32 beginning prior to January 1 of the calendar year in 1 33 which this Act takes effect." 1 34 #2. Title page, line 2, by inserting after the 1 35 word "brackets" the following: ", eliminating the 1 36 deduction for federal income taxes,". 1 37 1 38 1 39 1 40 SHOULTZ of Black Hawk 1 41 HF 701.301 80 1 42 mg/cf
Text: H01569 Text: H01571 Text: H01500 - H01599 Text: H Index Bills and Amendments: General Index Bill History: General Index
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