Income taxes.

The Personal Income Tax Law and the Corporation Tax Law allow various deductions in computing the income that is subject to the taxes imposed by those laws, including, in modified conformity with federal income tax law, a deduction for trade or business expenses. The Personal Income Tax Law and the Corporation Tax Law also allow various credits against the taxes imposed by those laws. This bill would state the intent of the Legislature to enact legislation that would establish a voluntary payroll-based employer compensation expense tax while providing income tax relief for employees.