SB 1210: Personal income taxes: tax rates.

The Personal Income Tax Law imposes taxes based upon taxable income of individuals, estates, and trusts at specified rates from 1% to 9.3%, as provided.

This bill, for taxable years beginning on or after January 1, 2018, would revise the income tax rates and taxable income brackets by imposing an income tax rate of 8.8% instead of 9.3% on specified taxable income below $75,000 and $100,0000, as provided.

This bill would take effect immediately as a tax levy.