SB18-061
Reduce The State Income Tax Rate
Concerning a reduction of the state income tax rate, and, in connection therewith, making an appropriation.
Session:
2018 Regular Session
Subject:
Bill Summary
Fiscal Policy & Taxes
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 4.43%. The bill also reduces the state alternative minimum tax by 0.2% for income tax years commencing on and after January 1, 2018.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)