This bill modifies the state income tax.
This bill:
- imposes a separate income tax rate on individual, estate, and trust income over $1,000,000;
- adjusts the $1,000,000 for inflation;
- makes the earned income tax credit refundable; and
- makes technical and conforming changes.

Statutes affected:
Introduced: 59-6-102, 59-10-103, 59-10-104, 59-10-116, 59-10-201, 59-10-205, 59-10-1002.2, 59-10-1007, 59-10-1017, 59-10-1022, 59-10-1023, 59-10-1028, 59-10-1035, 59-10-1036, 59-10-1042, 59-10-1043, 59-10-1102.1, 59-10-1403.2, 59-10-1403.3