Bill Text: DE HB217 | 2013-2014 | 147th General Assembly | Draft
Bill Title: An Act To Amend Title 30 Of The Delaware Code Relating To The Personal Income Tax.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2013-06-30 - Introduced and Assigned to Revenue & Finance Committee in House [HB217 Detail]
Download: Delaware-2013-HB217-Draft.html
|
SPONSOR: |
Rep. Scott & Sen. Bushweller |
|
Reps. Gray, Paradee, M. Smith; Sens. Lavelle, Lopez, Simpson |
|
HOUSE OF REPRESENTATIVES 147th GENERAL ASSEMBLY |
|
HOUSE BILL NO. 217 |
|
AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO THE PERSONAL INCOME TAX. |
Section 1. Amend Section 1106(b), Title 30 of the Delaware Code by inserting a new paragraph (10) as shown by underlining as follows:
(10) For taxable years beginning on or after January 1, 2014, amounts received by persons 60 years of age or older as pensions from the United States, including military retirement income, in excess of $12,500.00, but less than $22,500.00 in 2014, less than $30,000 .00 in 2015, or less than $37,500.00 in any tax year thereafter, reduced by the amount of Social Security benefits paid by the United States in the taxable year to the extent included in Federal adjusted gross income.
SYNOPSIS
|
This Bill excludes from income taxes pensions received from the United States, including military retirement income, up to a maximum of $22,500 in 2014, $30,000.00 in 2015, and $37,500.00 thereafter, less any Social Security benefits paid by the United States in the taxable year.It is intended to equalize the treatment of Federal retirees who are not covered or are partially covered by the Social Security System with those retirees receiving Social Security benefits which are presently exempt from tax. |
