Income tax, state; deduction for qualified business income.
Summary
Income tax; deduction for qualified businessincome. Establishes, beginning with tax year 2024, an individualincome tax deduction in an amount equal to 50 percent of certainfederal qualified business income deductions, excluding qualified real estate investment trust dividends.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Feb 13, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
1
Committee
3
Feb 5, 2024
Lower · Passed
Subcommittee recommends laying on the table (7-Y 1-N)
lower
Feb 2, 2024
Committee
Assigned Finance sub: Subcommittee #1
lower
Jan 9, 2024
Committee
Referred to Committee on Finance
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Joe McNamara
RRepublican
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