Mike Henne voted Yea (Concurrence Vote) on this Legislation.
Title: Amends Municipal Income Tax Laws
Vote to concur with Senate amendments and pass a bill that amends municipal income tax laws, effective January 1, 2016.
Exempts an individual from having their income taxed unless the individual has been residing in the specified city for more than 20 days (Sec. 1).
Specifies that if the individual is working in the petroleum industry the threshold for being taxed is reduced to 12 days (Sec. 1).
Prohibits local governments from taxing retirement benefits of company executives (Sec. 1).
Exempts individuals from the 20-day provision if they meet 1 of the following requirements (Sec. 1):
The individual has a base of operations in the city;
The individual is an athlete;
The individual is a professional entertainer; or
The individual is a public figure.
Exempts wages earned under the following circumstances from being taxed (Sec. 1):
The wage was earned before 1986;
The wage was earned from the brokerage of stocks; or
The wage was earned from self-employment income.
Specifies that businesses with an annual income of $500,000 or less will pay taxes only in the city in which they reside (Sec. 1).
Specifies that, beginning in 2016, businesses may carry forward any net losses to the next year to offset income tax costs (Sec. 1).
Specifies that if an individual splits their work between 2 cities, they will pay income tax under the municipality of the state in which they spend the most time (Sec. 1).
Specifies that the cost for filing estimated returns is $200 and is to be paid when filing the previous year’s taxes (Sec. 1).
Specifies that the $200 filing fee will contribute to owed accounts for that year’s income tax (Sec. 1).
Specifies that taxpayers expecting to owe more than $100 in taxes must pay quarterly estimated taxes (Sec. 1).
Title: Amends Municipal Income Tax Laws
Vote to pass a bill that amends municipal income tax laws, effective January 1, 2016.
Exempts an individual from having their income taxed unless the individual has been residing in the specified city for more than 20 days (Sec. 1).
Specifies that if the individual is working in the petroleum industry the threshold for being taxed is reduced to 12 days (Sec. 1).
Prohibits local governments from taxing retirement benefits of company executives (Sec. 1).
Exempts individuals from the 20-day provision if they meet 1 of the following requirements (Sec. 1):
The individual has a base of operations in the city;
The individual is an athlete;
The individual is a professional entertainer; or
The individual is a public figure.
Exempts wages earned under the following circumstances from being taxed (Sec. 1):
The wage was earned before 1986;
The wage was earned from the brokerage of stocks; or
The wage was earned from self-employment income.
Specifies that businesses with an annual income of $500,000 or less will pay taxes only in the city in which they reside (Sec. 1).
Specifies that, beginning in 2016, businesses may carry forward any net losses to the next year to offset income tax costs (Sec. 1).
Specifies that if an individual splits their work between 2 cities, they will pay income tax under the municipality of the state in which they spend the most time (Sec. 1).
Specifies that the cost for filing estimated returns is $200 and is to be paid when filing the previous year’s taxes (Sec. 1).
Specifies that the $200 filing fee will contribute to owed accounts for that year’s income tax (Sec. 1).
Specifies that taxpayers expecting to owe more than $100 in taxes must pay quarterly estimated taxes (Sec. 1).
Title: Amends Municipal Income Tax Laws