Les Gara voted Yea (Passage) on this Legislation.
Title: Establishes an Income Tax
Title: Establishes an Income Tax
Title: Establishes an Income Tax
Vote to pass a bill that adjusts taxable income rates.
Specifies that an individual with a federal adjusted gross income of less than or equal to $14,300 is not subject to income tax (Sec. 1).
Specifies that income up to $28,600 for two individuals filing jointly, who do not have dependents, are not subject to income tax (Sec. 1).
Specifies that any individual, or two individuals filing jointly, will receive an additional $4,000 deduction for each dependent, resulting in an increase in their overall taxable income by $4,000 (Sec. 1).
Specifies the following taxable income for one individual (Sec. 4):
Less than $10,300: $0;
$50,000 to $100,000: $992.50 + 4% of the amount in excess of $50,000;
$100,000 to $200,000: $2,992.50 + 4% of the amount in excess of $100,000;
$200,000 to $250,000: $7,992 + 6% of the amount in excess of $200,000; or
$250,000 or more: $10,992.50 + 7% of the amount in excess of $250,000.
Title: Establishes an Income Tax