HB 1001-1_ Filed 02/21/2013, 07:34 Goodin

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PREVAILED Roll Call No. _______

FAILED Ayes _______

WITHDRAWN Noes _______

RULED OUT OF ORDER

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MR. SPEAKER:

I move that House Bill 1001 be amended to read as follows:

SOURCE: Page 125, line 32; (13)MO100104.125. -->
Page 125, between lines 32 and 33, begin a new paragraph and
insert:

SOURCE: IC 6-3-2-1; (13)MO100104.66. -->
"SECTION 66. IC 6-3-2-1, AS AMENDED BY P.L.172-2011,
SECTION 54, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE UPON PASSAGE]: Sec. 1. (a) Each taxable year, a tax
at the ** following** rate ~~of~~ ~~three~~ ~~and~~ ~~four-tenths~~ ~~percent~~ ~~(3.4%)~~ of adjusted
gross income is imposed upon the adjusted gross income of every
resident person, and on that part of the adjusted gross income derived
from sources within Indiana of every nonresident person:

** (1) Before July 1, 2013, three and four-tenths percent (3.4%).**

(2) After June 30, 2013, and before July 1, 2014, three and twenty-three hundredths percent (3.23%).

** (3) After June 30, 2014, three and six hundredths percent
(3.06%).**

(b) Except as provided in section 1.5 of this chapter, each taxable year, a tax at the following rate of adjusted gross income is imposed on that part of the adjusted gross income derived from sources within Indiana of every corporation:

(1) Before July 1, 2012, eight and five-tenths percent (8.5%).

(2) After June 30, 2012, and before July 1, 2013, eight percent (8.0%).

(3) After June 30, 2013, and before July 1, 2014, seven and five-tenths percent (7.5%).

(4) After June 30, 2014, and before July 1, 2015, seven percent (7.0%).

(5) After June 30, 2015, six and five-tenths percent (6.5%).

(c) If for any taxable year a taxpayer is subject to different tax rates under subsection (b), the taxpayer's tax rate for that taxable year is the rate determined in the last STEP of the following STEPS:

STEP ONE: Multiply the number of months in the taxpayer's taxable year that precede the month the rate changed by the rate in effect before the rate change.

STEP TWO: Multiply the number of months in the taxpayer's taxable year that follow the month before the rate changed by the rate in effect after the rate change.

STEP THREE: Divide the sum of the amounts determined under STEPS ONE and TWO by twelve (12).

However, the rate determined under this subsection shall be rounded to the nearest one-hundredth of one percent (0.01%).

** (d) If for any taxable year a taxpayer is subject to different tax
rates under subsection (a), the taxpayer's tax rate for that taxable
year is the rate determined in the last STEP of the following
STEPS:**

STEP ONE: Multiply the number of months in the taxpayer's taxable year that precede the month the rate changed by the rate in effect before the rate change.

STEP TWO: Multiply the number of months in the taxpayer's taxable year that follow the month before the rate changed by the rate in effect after the rate change.

STEP THREE: Divide the sum of the amounts determined under STEPS ONE and TWO by twelve (12).

However, the rate determined under this subsection shall be rounded to the nearest one-hundredth of one percent (0.01%).".

Renumber all SECTIONS consecutively.

(Reference is to HB 1001 as printed February 19, 2013.)

(2) After June 30, 2013, and before July 1, 2014, three and twenty-three hundredths percent (3.23%).

(b) Except as provided in section 1.5 of this chapter, each taxable year, a tax at the following rate of adjusted gross income is imposed on that part of the adjusted gross income derived from sources within Indiana of every corporation:

(1) Before July 1, 2012, eight and five-tenths percent (8.5%).

(2) After June 30, 2012, and before July 1, 2013, eight percent (8.0%).

(3) After June 30, 2013, and before July 1, 2014, seven and five-tenths percent (7.5%).

(4) After June 30, 2014, and before July 1, 2015, seven percent (7.0%).

(5) After June 30, 2015, six and five-tenths percent (6.5%).

(c) If for any taxable year a taxpayer is subject to different tax rates under subsection (b), the taxpayer's tax rate for that taxable year is the rate determined in the last STEP of the following STEPS:

STEP ONE: Multiply the number of months in the taxpayer's taxable year that precede the month the rate changed by the rate in effect before the rate change.

STEP TWO: Multiply the number of months in the taxpayer's taxable year that follow the month before the rate changed by the rate in effect after the rate change.

STEP THREE: Divide the sum of the amounts determined under STEPS ONE and TWO by twelve (12).

However, the rate determined under this subsection shall be rounded to the nearest one-hundredth of one percent (0.01%).

STEP ONE: Multiply the number of months in the taxpayer's taxable year that precede the month the rate changed by the rate in effect before the rate change.

STEP TWO: Multiply the number of months in the taxpayer's taxable year that follow the month before the rate changed by the rate in effect after the rate change.

STEP THREE: Divide the sum of the amounts determined under STEPS ONE and TWO by twelve (12).

However, the rate determined under this subsection shall be rounded to the nearest one-hundredth of one percent (0.01%).

Renumber all SECTIONS consecutively.

(Reference is to HB 1001 as printed February 19, 2013.)

________________________________________

Representative Goodin

MO100104/DI 113 2013