HB22-1021
Reduce State Income Tax Rate
| Type | Bill |
|---|---|
| Session | 2022 Regular Session |
| Subjects |
Concerning a reduction of the state income tax rate.
Bill Summary:
For income tax years commencing on and after January 1, 2022, the bill reduces both the individual and the corporate state income tax rates from 4.55% to 4.4%. The bill also exempts the rate reductions from the existing statutory requirements that tax expenditure legislation include a tax preference performance statement in a statutory legislative declaration and a repeal after a specified period of tax years.
(Note: This summary applies to this bill as introduced.)
Committees
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 01/12/2022 | Introduced |
| Date | Location | Action |
|---|---|---|
| 03/14/2022 | House | House Committee on State, Civic, Military, & Veterans Affairs Postpone Indefinitely |
| 01/12/2022 | House | Introduced In House - Assigned to State, Civic, Military, & Veterans Affairs |