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Adrian Cotton

Senate Bill 399 Advances In The Senate

On a 6-5 vote, a re-write of the state’s income tax laws in Senate Bill 399 passed in the Senate Taxation Committee. It would cut the state’s income tax brackets from seven to two and set their tax rates at 4.7% for the lower tier and 6.5% for the upper. It would also eliminate several individual and corporate income tax credits. T...