HB 21-1197

  • Colorado House Bill
  • 2021 Regular Session
  • Introduced in House Mar 04, 2021
  • House
  • Senate
  • Governor

Income Tax Credit For Income Taxes Paid

Abstract

For income tax years commencing on or after January 1, 2021, but before January 1, 2026, the bill specifies that a qualified taxpayer is allowed an income tax credit in an amount equal to the income tax imposed on the qualified taxpayer in that income tax year so that the income tax due for the qualified taxpayer in that income tax year is zero. The bill defines a qualified taxpayer as: An individual who files a federal income tax return with federal taxable income in an amount less than $20,000; or Two individuals who file a joint federal income tax return with combined federal taxable income in an amount less than $40,000.(Note: This summary applies to this bill as introduced.)

Bill Sponsors (2)

Votes


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Actions


Mar 29, 2021

House

House Committee on Finance Postpone Indefinitely

Finance

Mar 04, 2021

House

Introduced In House - Assigned to Finance

  • Introduction
Finance

Bill Text

Bill Text Versions Format
Introduced (03/04/2021) PDF

Related Documents

Document Format
Fiscal Note FN1 (03/25/2021) PDF

Sources

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