HB 329: Income tax; rate of tax imposed on the taxable net income of individuals; modifyVoted on Wednesday March 1, 2017
John Pezold's thoughts
This legislation amends the code section for the state income tax. It strikes the tax rate model and places a flat 5.4% tax rate for all income levels. It also requires the Dept. of Revenue to publish an inflationary index every year.
The bill also adjusts the personal exemptions and standard deductions and creates an earned income tax credit at 10% of the federal credit, which cannot exceed the taxpayers income tax liability.
The table below breaks down the total number of votes, and marks the majority vote.
|Did not vote||9||5%|