Income Tax - Credit for Long-Term Care Premiums
Sponsor: Seth A. Howard (District 30B)Committee: Ways and MeansSubject: Taxes - IncomeStatus: Hearing 2/27 at 1:00 p.m. (as of Sep 19, 2019)
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 a taxable year beginning after December 31, 2019, but before January 1, 2022, and a maximum of $500 for a taxable year beginning after December 31, 2021; and applying the Act to all taxable years beginning after December 31, 2019.
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Testimony (0)
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