Introduced House Bill (H)

Co-Authored by

DIGEST

Local option income taxes. Provides that an individual who has a principal place of employment or business in a county other than the individual's county of residence shall pay a county adjusted gross income tax, county option income tax, or county economic development income tax imposed by the county where the individual maintains the principal place of employment or business at a rate that is one-fourth of the sum of certain tax rates imposed on residents of the county under those taxes. Excludes certain county adjusted gross income tax rates, county option income tax rates, and county economic development income Local option income taxes. Provides that an individual who has a principal place of employment or business in a county other than the individual's county of residence shall pay a county adjusted gross income tax, county option income tax, or county economic development income tax imposed by the county where the individual maintains the principal place of employment or business at a rate that is one-fourth of the sum of certain tax rates imposed on residents of the county under those taxes. Excludes certain county adjusted gross income tax rates, county option income tax rates, and county economic development income tax rates for capital improvements from the calculation of the tax rate imposed on the nonresident individual. Provides a credit against any tax liability imposed by the individual's county of residence equal to the amount of the tax paid to the county where the individual has the individual's principal place of employment or business. ... View more