John Price voted Yea (Conference Report Vote) on this Legislation.
Title: Amends State Business Tax Rates
Signed by Governor Mike Pence
Title: Amends State Business Tax Rates
Vote to adopt a conference report that reduces state tax rates, effective July 1, 2015.
Reduces the corporate tax rate from 6.5% in 2016 to 4.9% in 2022 (Sec. 10).
Authorizes a county to implement an exemption ordinance on “business personal property” if the acquisition cost of such property is less than $20,000 (Sec. 1).
Defines “business personal property” as the following (Sec. 2):
Personal property that is otherwise subject to assessment and taxation under the provisions of this bill; and
Personal property that is used in a trade or business or otherwise held, used or consumed in connection with the production of income.
Authorizes an exemption on “new personal property” so long as the property was not previously used for services in the state before its acquisition (Sec. 2).
Authorizes a county income tax council to establish an enhanced abatement schedule for a deduction so long as it does not exceed 20 years (Sec. 6).
Title: Amends State Business Tax Rates
Vote to adopt a conference report that reduces state tax rates, effective July 1, 2015.
Reduces the corporate tax rate from 6.5% in 2016 to 4.9% in 2022 (Sec. 10).
Authorizes a county to implement an exemption ordinance on “business personal property” if the acquisition cost of such property is less than $20,000 (Sec. 1).
Defines “business personal property” as the following (Sec. 2):
Personal property that is otherwise subject to assessment and taxation under the provisions of this bill; and
Personal property that is used in a trade or business or otherwise held, used or consumed in connection with the production of income.
Authorizes an exemption on “new personal property” so long as the property was not previously used for services in the state before its acquisition (Sec. 2).
Authorizes a county income tax council to establish an enhanced abatement schedule for a deduction so long as it does not exceed 20 years (Sec. 6).
Title: Amends State Business Tax Rates
Title: Amends State Business Tax Rates
Vote to pass a bill that reduces certain state income tax rates and repeals certain tax credits.
Title: Amends State Business Tax Rates