Reduces gross income tax rates by ten percent over three years.
The bill schedules the gross income tax rate reductions to occur at three and one-third percent for taxable years beginning in 2013, an additional three and one-third percent for taxable years beginning in 2014, and an additional three and one-third percent for taxable years beginning in 2015. After 2015, the bill maintains the total ten percent gross income tax rate reduction for future taxable years.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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