Amends the alternative tax table benefit recapture; increases the rate of supplemental tax for high income taxpayers.
Makes certain higher personal income tax rates permanent.
Provides that income taxes shall be adjusted to account for a cost of living adjustment for certain tax years.
Provides that income taxes shall be adjusted to account for a cost of living adjustment for certain tax years.
Imposes a progressive income tax structure for high income taxpayers.
Relates to business income base and certain small business taxpayers.
Provides for an energy price refund credit for certain taxpayers based upon a taxpayers income.
Phases in tax cuts to the personal income tax over a period of ten years; repeals certain provisions relating to tax benefit recapture.
Sets flat gross income tax rate at 5.9 percent tax for all taxable income over $37,500 or $75,000, depending on filing status; exempts taxpayers with less income from gross income tax.
Sets flat gross income tax rate at 5.9 percent tax for all taxable income over $37,500 or $75,000, depending on filing status; exempts taxpayers with less income from gross income tax.