Establishes a child tax credit of one thousand dollars ($1,000) per dependent.
Establishes a child tax credit of one thousand dollars ($1,000) per dependent.
Raises the earned-income tax credit from sixteen percent (16%) to thirty percent (30%) for the tax years 2025 and beyond.
Authorizes a retroactive tax credit for tax yr 2022/thereafter/allowing investment tax credits to be passed through to the personal income tax returns of eligible Sub-S corporation shareholders/limited liability company members who meet certain conditions
Authorizes a retroactive tax credit for tax yr 2022/thereafter/allowing investment tax credits to be passed through to the personal income tax returns of eligible Sub-S corporation shareholders/limited liability company members who meet certain conditions
Reduces the corporate minimum tax to three hundred fifty dollars ($350).
Allows a modification to federal adjusted gross income of fifty thousand dollars ($50,000) of taxable pension and/or annuity income for tax years beginning on or after January 1, 2025.
Establishes a tax credit against income tax based on eligible expenses incurred for care and support of an eligible family member.
Establishes a tax credit against income tax based on eligible expenses incurred for care and support of an eligible family member.
Increases the state earned-income credit as of January 1, 2025 to seventeen percent (17%) of the federal earned-income credit, not to exceed the amount of state income tax.