Allows gross income tax deduction for sales and use tax and societal benefits charges on electric and gas utility bills.
The bill allows taxpayers to deduct from their gross income all sales and use tax and societal benefits charges paid on electric and natural gas utility bills for their principal residence during the taxable year. It also requires electric and natural gas public utility suppliers to include the amount of the tax imposed by the “Sales and Use Tax Act” and the amount of the societal benefits charge as separately stated items on the customer’s periodic electric and gas utility bills.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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