Proposed H.B. No. 5052
Session Year 2023


AN ACT CONCERNING THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS, PENSION AND ANNUITY INCOME AND DISTRIBUTIONS FROM CERTAIN INDIVIDUAL RETIREMENT ACCOUNTS.

To allow the personal income tax deduction for distributions from certain individual retirement accounts to be fully effective sooner and to replace the current personal income tax deductions for Social Security benefits, pension and annuity income and distributions from certain individual retirement accounts to eliminate the marriage penalty, qualifying income thresholds and the cliff effect.


Other Bills with Similar Topics

  Annuities 

 

  Income tax deductions (State) 

 

  Individual retirement accounts (IRAs) 

 

  Pensions 

 

  Social Security