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.
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.
Restricting residential homestead property taxes to not more than the established base year amount for individuals 65 years of age and older.