SB 3112
Income tax; authorize credit for fuel tax paid by commercial and charter boaters for fuel used on water rather than roads.
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
An act to authorize an income tax credit for taxes paid under sections 27-55-519 and 27-55-521 by a charter boat operator OR a commercial fisherman on the purchase of fuel used on bodies of water, rather than on roads OR highways; To provide that any unused portion of the credit may be carried forward for the five succeeding tax years; To provide that the amount of the credit that may be utilized IN any tax year shall not exceed the total state income tax liability of the taxpayer for that year; To prescribe the content required IN the application for the credit; To authorize the department of revenue to promulgate regulations as needed to administer this act; And for related purposes.
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