Income Tax - Credit for Long-Term Care Premiums
Sponsor: Senator KlausmeierCommittee: Budget and TaxationSubject: Taxes - IncomeStatus: Hearing 1/24 at 2:15 p.m. (as of Nov 1, 2018)
What this bill does
Official synopsis
Altering a limitation on claiming the income tax credit for eligible long-term care insurance premiums for more than 1 year with respect to the same insured individual; altering the amount of the credit from a one-time $500 credit to a maximum of $250 for taxable years beginning January 1, 2019, and January 1, 2020, and a maximum of $500 for the taxable year beginning January 1, 2021, and for each taxable year thereafter; and applying the Act to all taxable years beginning after December 31, 2018.
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Testimony (0)
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