House Amendment 5 to House Bill 240
149th General Assembly (2017 - 2018)
The General Assembly has ended, the current status is the final status.
This amendment eliminates the tax rate increases for all existing brackets below $60,000, while allowing taxpayers to elect to deduct the greater of the current standard deduction or 50% of their itemized deductions. Additionally, this amendment increases the tax rate to 7.1% in the bracket over $150,000.