HB 32 – Method of property assessment. Requires the State Tax Commission to use the local
assessor’s property assessment method when the commission’s assessment is in
conflict with the local assessor’s assessment.
SCS HB 55 / SB 465 – Tax amnesty program. Authorizes a tax amnesty program for the assessment or
payment of all penalties, additions to tax, and interest on delinquencies of
unpaid taxes which occurred on or prior to December 31, 2012; requires a
taxpayer to apply for amnesty, pay all unpaid taxes in full, and agree to
comply with state tax laws for the next eight years.
HB 128 – Property tax bills. Requires collectors in all counties, except for counties
under township organization, to mail or electronically send property tax bills
30 days before the taxes are delinquent.
536 – Income tax. Creates
a phased-in individual income tax deduction for business income and reduces
the corporate income tax rate over a five-year period. Allows taxpayers to
deduct 10% of business income for the 2013 tax year, increasing by 10% annually
to a maximum of 50% for all years after 2016. Shareholders of S corporations
and partners in partnerships will be allowed a proportional deduction based on
their share of ownership.
3 – Property tax exemption for military. Proposes a constitutional amendment authorizing an
exemption for certain property from personal property tax for active-duty
military personnel stationed outside the country.
25 – Income tax phase-out. Changes the laws regarding taxes by phasing out the income
tax and replacing it with a sales tax.
26, 11 & 31 – Modification of tax rates. Modifies laws regarding taxation. Among other provisions,
this legislation modifies the individual income tax rate table, creates an
individual income tax deduction for business income phased in over a five-year
period, reduces the corporate income tax rate over a period of five years, and
raises the state sales and use tax over a period of five years.
382 – Personal and corporate income tax. Changes the rates of tax on personal and corporate income.
Specifically modifies the individual income tax rate so that all income over
$7,000 will be taxes at the rate of five percent, and reduces the corporate
income tax rate from 6.25% to 5.25%.
24 – Replacement of income tax with sales tax. Replaces income taxes with an
increased sales and use tax.