Modifies eligibility requirements for other retirement income exclusion concerning other sources of income.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill modifies the rules for a retirement income exclusion, which allows some taxpayers to exclude certain income from their taxable income. Specifically, it increases the income threshold above which the exclusion no longer applies. The bill adjusts the income limits for various sources of income, such as salaries, wages, and business profits, to be eligible for the exclusion. It also clarifies that if a taxpayer’s total gross income exceeds $100,000, they will still be ineligible for this particular exclusion.
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Sponsors
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2 on record
Primary sponsors
Douglas Steinhardt
James Holzapfel
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