The Personal Income Tax Law, in conformity with federal income tax law, generally defines “gross income” as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income.
This bill, for taxable years beginning on or after January 1, 2017, would exclude from gross income the earned income of an eligible individual that is derived from, or attributable to, sources within Indian country in this state. The bill would define specified terms for the purposes of this exclusion.
This bill would take effect immediately as a tax levy.