Income tax, state; rates and deductions for businesses. (SB1423)
Introduced By
Sen. David Suetterlein (R-Salem)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Income tax; rates and deductions for businesses. Provides an individual income tax deduction for 50 percent of the amount of qualified business income deductible for federal income tax purposes, but excluding the amount of qualified REIT dividends deductible under the same provision of the Internal Revenue Code. The bill also reduces the corporate income tax rate from six percent to five percent for taxable years beginning on or after January 1, 2023. Read the Bill »
Status
01/25/2023: Incorporated into Another Bill
History
Date | Action |
---|---|
01/11/2023 | Prefiled and ordered printed; offered 01/11/23 23102705D |
01/11/2023 | Referred to Committee on Finance and Appropriations |
01/21/2023 | Impact statement from TAX (SB1423) |
01/25/2023 | Incorporated by Finance and Appropriations (14-Y 0-N) |
01/25/2023 | Incorporated by Finance and Appropriations (SB1355-Newman) (14-Y 0-N) (see vote tally) |