Mentions of “Revenue” — 5 found
… Upon signature, this Act becomes effective when the Secretary of Finance provides written notice that the Division of Revenue has implemented the personal income tax release of the Integrated Revenue Administration System (IRAS). 2. This Act …
… rovides written notice that the Division of Revenue has implemented the personal income tax release of the Integrated Revenue Administration System (IRAS). 2. This Act allows the following deductions from federal adjusted gross income in calcul …
… but joint returns, with a maximum subtraction of $2,000 means-tested at $200,000, would result in an estimated annual revenue loss to the State of $591,400 in Fiscal Year 2023. 4. Per the Office of the State Treasurer, there are currently 126 …
… d reach the maximum allowable deduction of $5,000, at an applicable tax rate of 5.55%, the minimum estimated annual revenue loss to the State associated with this deduction is $76,035 in Fiscal Year 2023. 5. This analysis assumes costs wi …
… $76,035 in Fiscal Year 2023. 5. This analysis assumes costs will increase at a rate of 3% annually. Cost: State Revenue Loss Fiscal Year 2022: Not applicable Fiscal Year 2023: $667,435 Fiscal Year 2024: $687,458 Prepared by Ruth Ann Jo …