HB 1507

Bill Subjects

Income Taxes, Credits Income Taxes, Deductions Military Forces

Abstract

Provides a state income tax deduction for a member of an active or reserve component of the armed forces of the United States or the National Guard who has military income that is attributable to military service while deployed or stationed outside of the United States equal to the amount of income attributable to that military service. Establishes a tax credit for a taxpayer that employs a member of a reserve component of the armed forces of the United States or the National Guard. Requires the taxpayer to submit certain information to the department of state revenue to claim the credit.