Proposed H.B. No. 5027
Session Year 2022


AN ACT ELIMINATING THE ESTATE AND GIFT TAXES AND CONCERNING THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS AND PENSION OR ANNUITY INCOME.

To (1) eliminate the estate and gift taxes, (2) eliminate the personal income tax on Social Security benefits, regardless of income, and (3) require that pension and annuity income be exempt from the personal income tax for taxable years commencing on or after January 1, 2022, rather than the current phase-out schedule.


Other Bills with Similar Topics

  Annuities 

  Estate tax 

  Income tax exemptions (State) 

  Pensions 

  Social Security