Proposed H.B. No. 5418
Session Year 2023

AN ACT CONCERNING PERSONAL INCOME TAX DEDUCTIONS FOR SENIORS.

To require that, for seniors, (1) the qualifying income threshold for any personal income tax deduction be indexed to reflect the rate of inflation, and (2) the personal income tax deduction for any distribution from certain individual retirement accounts be effective for taxable years commencing on or after January 1, 2023, in lieu of the current phase-in schedule.

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  Elderly persons 

 

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  Income tax deductions (State) 

 

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  Individual retirement accounts (IRAs) 

 

• HB05020 - AN ACT INCREASING THE QUALIFYING INCOME THRESHOLDS FOR CERTAIN PERSONAL INCOME TAX DEDUCTIONS.
• HB05052 - AN ACT CONCERNING THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS, PENSION AND ANNUITY INCOME AND DISTRIBUTIONS FROM CERTAIN INDIVIDUAL RETIREMENT ACCOUNTS.
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• HB05289 - AN ACT INCREASING THE QUALIFYING INCOME THRESHOLDS FOR CERTAIN PERSONAL INCOME TAX DEDUCTIONS FOR MARRIED INDIVIDUALS FILING JOINTLY.
• HB05409 - AN ACT ELIMINATING THE QUALIFYING INCOME THRESHOLDS FOR THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS, PENSION OR ANNUITY INCOME AND CERTAIN INDIVIDUAL RETIREMENT ACCOUNT DISTRIBUTIONS.
• HB05421 - AN ACT CONCERNING THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS, PENSION AND ANNUITY INCOME AND DISTRIBUTIONS FROM CERTAIN INDIVIDUAL RETIREMENT ACCOUNTS.
• HB05683 - AN ACT REVISING THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS, PENSION AND ANNUITY INCOME AND DISTRIBUTIONS FROM CERTAIN INDIVIDUAL RETIREMENT ACCOUNTS.
• HB05684 - AN ACT CONCERNING THE DEDUCTION AND WITHHOLDING OF PERSONAL INCOME TAX FROM CERTAIN PAYMENTS AND DISTRIBUTIONS.
• HB05690 - AN ACT CONCERNING THE DEDUCTION AND WITHHOLDING OF PERSONAL INCOME TAX FROM CERTAIN PAYMENTS AND DISTRIBUTIONS.
• HB05691 - AN ACT ADJUSTING THE QUALIFYING INCOME THRESHOLDS FOR CERTAIN PERSONAL INCOME TAX DEDUCTIONS AND CONCERNING THE CLIFF EFFECT.
• SB00360 - AN ACT ELIMINATING THE QUALIFYING INCOME THRESHOLDS FOR THE PERSONAL INCOME DEDUCTIONS FOR SOCIAL SECURITY BENEFITS, PENSION OR ANNUITY INCOME AND CERTAIN INDIVIDUAL RETIREMENT ACCOUNT DISTRIBUTIONS.
• SB00690 - AN ACT REVISING THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS, PENSION AND ANNUITY INCOME AND DISTRIBUTIONS FROM CERTAIN INDIVIDUAL RETIREMENT ACCOUNTS.
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