Bill > H2667

This bill, titled "Relative to income tax rates," proposes to amend Section 4 of Chapter 62 of existing law by changing the tax rate for "Part B taxable income," which refers to a specific category of income subject to taxation. Specifically, it inserts language to establish that this taxable income will be taxed at a rate of 5.15 percent for all tax years that begin on or after January 1, 2015, effectively reducing the income tax rate for that income category from a previous, unspecified rate.