Income tax credit for firearms safety expenses. Provides a state income tax credit for expenses incurred to receive qualified firearms instruction or to purchase a qualified firearms storage device. Provides that the tax credit is equal to the amount of the incurred expenses. Provides that the maximum amount allowed as a tax credit is $300 for individuals filing single returns or $600 for married couples filing joint returns. Provides that a tax credit may not exceed the taxpayer's state income tax liability. Provides that a taxpayer is not entitled to a carryover, carryback, or refund of any unused tax credit.
Authored by Representative Lucas |
Title | Description | Date | View |
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Fiscal Note | Fiscal Note #1: Introduced | 2024-01-04 | Click To View |