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Reduce State Income Tax

Concerning a reduction of the state income tax rate.
2018 Regular Session
Fiscal Policy & Taxes
Bill Summary

For income tax years commencing on and after January 1, 2018, the bill reduces both the individual and the corporate state income tax rate from 4.63% to 4%. The bill also reduces the state alternative minimum tax by 0.63% for income tax years commencing on and after January 1, 2018.

(Note: This summary applies to this bill as introduced.)




Bill Text

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The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details