Establishes the retire strong tax credit for certain individuals age 65 or older; authorizes a tax credit amounting to half the qualifying real property taxes paid by such individual for the taxable year, up to $6,500.
Establishes the retire strong tax credit for certain individuals age 65 or older; authorizes a tax credit amounting to half the qualifying real property taxes paid by such individual for the taxable year, up to $6,500.
Establishes the retire strong tax credit for certain individuals age 65 or older; authorizes a tax credit amounting to half the qualifying real property taxes paid by such individual for the taxable year, up to $6,500.
Income tax, exemption of up to $6,000 of taxable retirement income for individuals 65 years of age or older, Sec. 40-18-19 am'd.
Relating to income taxes, to provide that up to $6,000 of taxable retirement income is exempt from state income tax for individuals 65 years of age or older, Sec. 40-18-19 am'd.
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)
Income tax; exempt individuals 100 years of age and older.
Revenue and taxation; providing income tax credit for individuals; prescribing method for computation of tax credit; computation of taxable income; effective date.
Restricting residential homestead property taxes to not more than the established base year amount for individuals 65 years of age and older.
Increases amount of rental payments defined as rent constituting property taxes for purposes of deduction from gross income for property tax payments; increases property tax credit option for certain individuals.