Home

1998 Tax Agreement

Staff Contact:
Proposal Effective
Date
Fully
Effective
Date
(If Phased-in)
Fully
Implemented
Savings

   STAR Acceleration 1998-99 School Year 0.0
   Sales Tax Clothing Weeks Sept. 1998, Jan. 1999 0.0
Personal Income Tax:
   Child Care Credit Enhancement January 1999 50.0
   Ag. Credit January 1998 0.0
   Holocaust January 1995 0.0
Business Taxes:
   Corp Reduction to 7.5% July 1999 July 2001 230.0
   AMT Reduction to 3.0% July 1998 July 1999 14.0
   Trading ITC October 1998 50.0
   Fixed Dollar Min Reduction to $100 July 1998 July 1999 80.0
   Subchapter S Reduction to 7.5% July 1999 July 2001 31.0
   High Tech:
      $1,000 Wage Credit Janaury 1999 8.0
      Capital Investment Credit January 1999 2.0
      Sales Tax on Computer Hardware June 1998 8.0
      Deferral of Capital Gain March 1998 2.0
Sales and Use Taxes:
   Clothing Enhancements December 1999 105.0
   Pay Phones September 1998 8.0
   Textbooks June 1998 23.0
   Central Office September 1998 3.0
   DMV Registration Fee July 1999 66.0
   DMV Refunds Retroactive 17.0
   Beer Excise Tax January 1999 7.0
   Highway Use Tax January 1999 35.0
Other Taxes:
   Estate Tax Small Business January 1998 4.0
Miscellaneous:
   Provider Acceleration December 1998 0.0
TOTAL 743.00

Back