HB 1019

Bill Subjects

Corporations Education Generally Income Taxes, Adjusted Gross Income Taxes Income Taxes, Credits Schools, Taxes

Abstract

Provides for an adjusted gross income tax credit for donations to a public school foundation. Provides that the maximum individual taxpayer credit is $1,000 in the case of a single return or $2,000 in the case of a joint return. Provides that the maximum corporate taxpayer credit is the greater of 10% of the corporation's total adjusted gross income tax liability or $5,000.