Indiana House Bill 1575 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 20 2015 - 25% progression, died in committee
Action: 2015-01-20 - First Reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Tax credit for new small businesses. Provides that a taxpayer that is a qualified small business startup is entitled to a graduated tax credit against adjusted gross income tax liability. Defines a "qualified small business startup" as a business that: (1) is not part of an affiliated group of corporations or under common control; (2) has fewer than 10 full-time employees; (3) has sales of not more than $1,000,000; (4) is not publicly traded; and (5) during the preceding five years, was in the first year of employer compliance concerning worker's compensation requirements. The amount of the graduated tax credit

Tax credit for new small businesses. Provides that a taxpayer that is a qualified small business startup is entitled to a graduated tax credit against adjusted gross income tax liability. Defines a "qualified small business startup" as a business that: (1) is not part of an affiliated group of corporations or under common control; (2) has fewer than 10 full-time employees; (3) has sales of not more than $1,000,000; (4) is not publicly traded; and (5) during the preceding five years, was in the first year of employer compliance concerning worker's compensation requirements. The amount of the graduated tax credit

Rep. Melanie Wright [D]

Date	Chamber	Action
2015-01-20	House	First Reading: referred to Committee on Ways and Means
2015-01-20	House	Authored by Representative Wright

Type	Source
Summary	https://iga.in.gov/legislative/2015/bills/house/1575/details
Text	http://iga.in.gov/static-documents/a/9/f/b/a9fbd853/HB1575.01.INTR.pdf