SB 470 – Modifies the individual income tax rates

• Sponsor: Ridgeway
• LR Number: 2118S.01I
• Committee: Ways and Means
• Last Action: 2/26/2009 - Second Read and Referred S Ways and Means Committee
• Journal Page: S425
• Effective Date: August 28, 2009

Current Bill Summary

SB 470 - Under current law, any amount of individual taxable income above nine thousand dollars is taxed at a rate of six percent. This act modifies the tax table by lowering the highest rate of tax to four percent of taxable income in excess of five thousand dollars.

JASON ZAMKUS