Introduced House Bill (H)

Authored by

DIGEST

Income tax credit for firearms safety expenses. Provides a state income tax credit for expenses incurred to receive qualified firearms instruction or to purchase a qualified firearms storage device. Provides that the credit is equal to the amount of the incurred expenses. Provides that the maximum amount allowed as a credit is $200 for individuals filing single returns or $400 for married couples filing joint returns. Provides that a tax credit may not exceed the taxpayer's state income tax liability. Provides that a taxpayer is not entitled to a carryover, carryback, or refund of any unused tax credit. Income tax credit for firearms safety expenses. Provides a state income tax credit for expenses incurred to receive qualified firearms instruction or to purchase a qualified firearms storage device. Provides that the credit is equal to the amount of the incurred expenses. Provides that the maximum amount allowed as a credit is $200 for individuals filing single returns or $400 for married couples filing joint returns. Provides that a tax credit may not exceed the taxpayer's state income tax liability. Provides that a taxpayer is not entitled to a carryover, carryback, or refund of any unused tax credit.