Repeals state taxes levied on the taxable income of individuals and corporations and repeals tax credits, exemptions, deductions, and exclusions (OR DECREASE GF RV See Note)
Provides a flat corporation income tax rate and eliminates the usage of certain tax credits against corporation income tax. (gov sig) (OR -$144,000,000 GF RV See Note)
Provides for a flat rate for purposes of calculating corporate income tax and terminates certain corporate income tax exemptions, deductions, and credits (Item #4) (EN SEE FISC NOTE RV See Note)
Requires the termination of all income tax credits
Reduces the rates for the tax levied on individual income tax in favor of a flat tax and eliminates all individual income tax credits, deductions, exclusions, and exemptions
Provides a sunset date for all tax credits
Changes certain refundable tax credits to nonrefundable tax credits. (See Act)
Reduces the amount of certain income tax exclusions, exemptions, deductions, and credits (OR +$850,000,000 GF RV See Note)
Reduces the amount of certain income tax exclusions, exemptions, deductions, and credits (OR +$850,000,000 SD RV See Note)