To Amend And Modernize The Law Concerning The Apportionment Of Income Derived From Multistate Operations; And To Change The Method For Sourcing Of Receipts For Services And Intangibles.
Providing for the apportionment of business income by the single sales factor and the apportionment of financial institution income by the receipts factor, deductions from income when using the single sales factor and receipts factor, the decrease in corporate income tax rates determining when sales other than tangible personal property are made in the state and excluding sales of a unitary business group of electric and natural gas public utilities.
Providing an additional personal exemption for head of household tax filers and increasing the personal exemption for certain disabled veterans for purposes of income tax, modifying the definition of household income and increasing the household income and the appraised value thresholds for eligibility of seniors and disabled veterans related to increased property tax homestead refund claims.
Relating To The Film Industry.
Revenue; taxation rates; income; exemptions; deductions; effective date.
Apportion Taxable Income;digital Business
Revenue and taxation; income tax; pensions; taxable income; exemption; effective date.
Revenue and taxation; income tax; adjustments; retirement benefits; effective date.