SB 410 – Allows certain S corporation shareholders to receive a tax credit for income earned in another state

• Sponsor: Koenig
• LR Number: 1858S.01I
• Committee: Ways and Means
• Last Action: 3/25/2021 - Voted Do Pass S Ways and Means Committee
• Effective Date: August 28, 2021

Current Bill Summary

SB 410 - Current law authorizes a tax credit for the amount of income tax paid to another state for income that is also taxed in this state. This act allows such tax credit to be claimed by resident shareholders of an S corporation for the amount of tax imposed by this state on income earned in another state but not taxed by such state.

JOSH NORBERG

Amendments

No Amendments Found.