Video & Transcript : 'gross income subtraction' :
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AZ
Transcript Highlights:
- Because obviously some business owners have tremendous income swings in liability and non-liability,
- And when you're classified that way, the valuation is effectively linked to its income potential as agricultural
- Agricultural property is valued statutorily with an income-based approach, supported by leases and sworn
- We didn't have income tax. We didn't have sales tax. We had property tax.
- but system so it is while it should be simple I want to lift up that it may not be now that we have income
Keywords:
tax penalties, filing, tax returns, administration, Arizona Revised Statutes, HB2288, foreign dividends, corporate income tax, Arizona tax, A.R.S. 43-1122, subtraction, gross income subtraction, multinational corporations, GILTI, global intangible low-taxed income, subpart F income, IRC 78 gross-up, foreign-source income, international tax conformity, corporate tax base
MN
Transcript Highlights:
- I believe that section prohibits local governments from enacting a sales or income tax, and so we need
Committee:
Senate Taxes
Keywords:
day care, tax subtraction, child care costs, licensed child care, dependent care assistance, HF4321, dependent care assistance programs, gross income exclusion, federal conformity, Internal Revenue Code, individual income tax, Minnesota tax law, tax conformity, child care assistance, employer-provided dependent care, taxable income, state income tax, retroactive tax change, family care benefits, housing tax credit
MN
Transcript Highlights:
- </c><00:20:56.000><c> They're</c> basic middle-income family. They're basic middle-income family.
- We also understand the higher incomes and stuff like that. This is addressing middle-income people.
- It will be folks who have a high enough tax liability that this subtraction in their taxable income would
- subtraction in their taxable<00:31:41.000><c> income</c><00:31:41.360><c> would</c><00:31:41.520><c>
- </c> household income of 19,000. household income of 19,000.
Committee:
House Taxes
Keywords:
day care, tax subtraction, child care costs, licensed child care, dependent care assistance, HF4321, dependent care assistance programs, gross income exclusion, federal conformity, Internal Revenue Code, individual income tax, Minnesota tax law, tax conformity, child care assistance, employer-provided dependent care, taxable income, state income tax, retroactive tax change, family care benefits, housing tax credit
MN
Transcript Highlights:
- recent report last year, and we had 74,000 jobs in Virginia, which yielded $5.5 billion in labor income
- recent report last year, and we had 74,000 jobs in Virginia, which yielded $5.5 billion in labor income
- 9.1 billion in GDP and last year income 9.1 billion in GDP and last year it<00:26:17.679><c> was</c>
- So Minnesota Power serves some of the largest industries in the nation and lowest-income communities
- So Minnesota Power serves some of the largest industries in the nation and lowest-income communities
Committee:
Senate Taxes
Keywords:
tax relief fund, budget surplus, surplus revenue, tax rebate, tax refund, one-time refund, income tax, property tax, constitutional amendment, Minnesota Constitution, general fund, budget reserve, taxpayer relief, state surplus, fiscal forecast, wealthy taxpayers, high-income exclusion, 2026 ballot, referendum, surplus distribution
MN
Transcript Highlights:
- the tax committee are familiar with our multiplication tables and basic division, addition, and subtraction
- tables and basic division,<00:25:23.919><c> addition</c><00:25:24.400><c> and</c><00:25:24.720><c> subtraction
- </c><00:25:25.600><c> and</c> division, addition and subtraction and division, addition and subtraction
- reduce their tax burden at that time, the overall effect for them has been a general downturn in their income
- reduce their tax burden at that time, the overall effect for them has been a general downturn in their income
Committee:
Senate Taxes
Keywords:
local government debt, municipal bonds, county bonds, capital improvements, public financing, bond issuance, public hearing, notice period, bond guarantee, Minnesota Public Facilities Authority, volume cap, private activity bonds, housing finance, residential rental bonds, LIHTC, low-income housing tax credits, redevelopment, courthouse financing, jail financing, law enforcement center
AZ
Transcript Highlights:
- It also establishes individual income tax subtractions from Arizona gross income and modifies the deductions
- The federal government had made substantial changes to the federal calculation of adjusted gross income
- The state statutes reference the federal adjusted gross income as of the end of calendar year 2024.
- And so that reduces my adjusted gross income for tax purposes.
- Whenever there's a significant change in the calculation of the federal adjusted gross income, we need
Keywords:
individual income tax, subtraction, Arizona Revised Statutes, retirement benefits, adoption costs, charitable contributions, health insurance, premium payment, Arizona State Retirement System, contingent annuitant, long-term disability, benefits limitations, disability compensation, social security, retirement system, elected officials, ASRS, eligibility waiver, age 65, taxation
OK
Transcript Highlights:
- They are limited to the tax credit assigned to their income category.
- So this has Nothing to do with those income caps that were a part of the originally filed bill.
- But these are lower valued homes that usually they would be homes of people with less income, and it
- So we're trying to make it very very clear on what type of remote workers would pay income tax to the
- Trying to fight these fires, then they would not be subject to pay Oklahoma income tax.
Bills:
SB683 , SB1579 , SB1389 , SB1387 , SB1390 , SB1391 , SB2063 , SB1829 , SB2060 , SB1842 , SB1398 , SB1212 , SB2158 , SB102
Committee:
Senate Revenue and Taxation
Keywords:
education, tax credit, student support, private school, Oklahoma Parental Choice Tax Credit, financial assistance, homeschooling, qualified expenses, property tax, valuation increase, taxpayer rights, homestead, protest process, school choice, tuition assistance, income limits, parental choice, accreditation, sales tax, motor vehicles
MN
Transcript Highlights:
- Williams, federal law includes an exclusion from gross income for $5,000.
- The bill would allow a subtraction for amounts above that $5,250.
- </c> care about um helping the lowest income care about um helping the lowest income members<01:24:39.280
- , and this is not the same as universal basic income.
- , and this is not the same as universal basic income.
Committee:
House Taxes
Keywords:
sales tax, education funding, construction, Aitkin Public Schools, tax exemption, refundable credit, HF148, use of force training, deadly force, peace officer training, police training, law enforcement, POST Board, Board of Peace Officer Standards and Training, scenario-based training, de-escalation, defensive tactics, force-on-force training, stress management, officer wellness
MN
Transcript Highlights:
- And before a project is even completed, the sales, property, and income taxes collected from it return
- warehouses to office space, vacant storefronts to community art space, abandoned churches to mixed-income
- 00:47:04.960><c> churches</c><00:47:05.359><c> to</c><00:47:05.520><c> mixed</c><00:47:05.920><c> income
- </c> abandoned churches to mixed income abandoned churches to mixed income housing.<00:47:07.440><c>
- The decline in tax revenue impacts the social services many of our members relied on as low-income workers
Committee:
Senate Taxes
Keywords:
sales tax, education funding, construction, Aitkin Public Schools, tax exemption, refundable credit, HF148, use of force training, deadly force, peace officer training, police training, law enforcement, POST Board, Board of Peace Officer Standards and Training, scenario-based training, de-escalation, defensive tactics, force-on-force training, stress management, officer wellness
AZ
Transcript Highlights:
- members, Senate Bill 1633 establishes, for taxable years beginning January 1, 2027, an individual income
- tax subtraction for the amount of...
- Beginning January 1, 2027, an individual income tax subtraction for the amounts of any net capital gains
- So if you have a gain in this case, you get to subtract this from what would otherwise be gains.
- So I don't know how... ...in this case, you get to subtract this from what would otherwise be gains.
Committees:
Senate Finance , Senate Senate Finance Committee of Reference
Keywords:
savings and loan, technical correction, Arizona Revised Statutes, financial institutions, prohibitions, GPLET, abatement, tax incentives, local government, property improvement, central business district, insurance, settlement demands, time limits, third-party claims, regulatory compliance, initiative, referendum, ballot measures, petition circulators
MN
Transcript Highlights:
- </c><00:04:10.560><c> and</c> that meet certain residency income and that meet certain residency income
- </c> as income as income and<00:30:16.559><c> my</c><00:30:16.960><c> question</c><00:30:17.440><c> okay
- :40:00.480><c> be</c><00:40:00.800><c> $1,257</c> median gross rent would be $1,257 median gross rent
- years because, instead of income tax cuts, we've been entertaining income tax increases, or tax increases
- years because, instead of income tax cuts, we've been entertaining income tax increases, or tax increases
Committee:
Senate Taxes
MN
Minnesota 2025-2026 Regular Session
House Transportation Finance and Policy Committee 2/10/25 - Part 2
Transportation Finance and Policy
Transcript Highlights:
- the the Social Security subtraction the delivery<00:11:49.120><c> fee</c><00:11:49.760><c> elimination
- This regressive fee also has a disproportionate impact on lower-income and disabled consumers who often
- and disabled consumers who lower income and disabled consumers who often<00:29:13.159><c> rely</c><00
- I don't disagree that we need other forms of income.
- income threshold is not a lot of money for most people nowadays.
Bills:
HF5
Committee:
House Transportation Finance and Policy
MN
Minnesota 2025-2026 Regular Session
House Transportation Finance and Policy Committee 2/10/25 - Part 1
Transportation Finance and Policy
Transcript Highlights:
- Yeah, I know I've talked to people who are living on very fixed incomes, and they've told me, you know
- living on talked to people who are uh living on very<00:41:47.440><c> fixed</c><00:41:47.800><c> incomes
- and</c><00:41:48.440><c> they've</c><00:41:48.640><c> told</c><00:41:48.839><c> me</c> very fixed incomes
- and they've told me very fixed incomes and they've told me you<00:41:49.119><c> know</c><00:41:49.319
- Yeah, I know I've talked to people who are living on very fixed incomes, and they've told me, you know
Bills:
HF5
Committee:
House Transportation Finance and Policy
NM
New Mexico 2026 Regular Session
Senate - Tax, Business and Transportation Jan 22nd, 2026 at 03:09 pm
Senate Tax, Business & Transportation
Transcript Highlights:
- Me getting a direct tax credit for my personal income tax will be a good incentive.
- They don't have an income tax at all.
- So anything that we can be doing to bring that income tax liability down is going to... ...an income
- Last year, Senate Bill 455 added the term co-insurance to the gross receipts deduction definition.
- That's their operating income.
Committee:
Senate Senate Tax, Business & Transportation
Keywords:
tax credit, physician, healthcare, income tax, rural health, tax deduction, gross receipts, coinsurance, managed care
AL
Alabama 2025 Regular Session
Alabama Senate Finance and Taxation General Fund Committee Apr 2nd, 2025
Finance and Taxation General Fund
Transcript Highlights:
- more than five million people receive food stamp benefits across the United States with assets or income
- ...use something called broad-based categorical eligibility loophole which raises the income threshold
- This means that their household incomes were at or below 185% of poverty—that's $ Children and youth
- Even with categorical eligibility, we have the lowest gross income test that any other state uses, which
Committee:
Senate Finance and Taxation General Fund
Keywords:
SB245, public assistance, Medicaid, SNAP, food assistance, Alabama Medicaid Agency, Department of Human Resources, eligibility verification, self-attestation, data matching, fraud prevention, improper payments, program integrity, benefit eligibility, income verification, residency verification, asset verification, electronic benefit transfer, EBT, cross-checks
MN
Transcript Highlights:
- The key metric here is direct debt plus pension liabilities compared to the state's personal income,
- </c> compared to the state's personal income compared to the state's personal income and<00:18:53.840
- So this metric here, relative to personal income, and that we use personal income as a proxy for the
- and that we use to personal income and that we use personal<00:30:13.799><c> income</c><00:30:14.320
- So this metric here, relative to personal income, and we use personal income as a proxy for the economic
Bills:
HF201 , HF217 , HF314 , HF315 , HF406 , HF408 , HF425 , HF426 , HF730 , HF731 , HF652 , HF761 , HF1079 , HF928 , HF1017 , HF1056 , HF1081
Committee:
Senate Capital Investment
Keywords:
HF201, Minnesota income tax, tax subtraction, tax deduction, volunteer firefighter, volunteer fire and rescue, emergency responder, ambulance service personnel, EMR, EMS, search and rescue, canine search and rescue, underwater search and rescue, paid-on-call, part-time volunteer, tax relief, state tax law, section 290.0132, drivers license, identification card
AL
Committee:
House Health
Keywords:
speech-language pathology, licensure, clinical supervision, educational qualifications, healthcare assistant, hemp-derived cannabinoids, CBD, THC, delta-8, delta-9, delta-10, consumable hemp products, psychoactive cannabinoids, cannabinoid regulation, hemp licensing, ABC Board, Alcoholic Beverage Control Board, retail hemp sales, wholesale hemp distribution, hemp tax
NM
New Mexico 2026 Regular Session
Senate - Tax, Business and Transportation Feb 7th, 2026 at 06:52 pm
Senate Tax, Business & Transportation
Transcript Highlights:
- Senate Bill 92, which is the construction materials gross receipts tax deduction.
- Creates a new gross receipts tax deduction for receipts from the sale of certain in-office equipment
- Senate Bill 92, which is the construction materials gross receipts tax deduction.
- This is the biggest physician personal income tax incentive in the country.
- Low-flow gross receipts tax has increased by 85%.
Committee:
Senate Senate Tax, Business & Transportation
Keywords:
tax credit, physician, healthcare, income tax, rural health, quantum technology, infrastructure, economic development, New Mexico, corporate tax, research and development, innovation, affordable housing, gross receipts tax, tax deduction, construction materials, multifamily housing, low income, journalism, local news
MN
Minnesota 2025-2026 Regular Session
House Judiciary Finance and Civil Law Committee 2/26/26
Judiciary Finance and Civil Law
Transcript Highlights:
- Property owners appealing valuations must disclose detailed income information for income-producing properties
- Property owners appealing valuations must disclose detailed income information for income-producing properties
- Um, it's inside of the income approach.
- </c><00:43:22.720><c> it</c> try to figure out how much income it try to figure out how much income it
- </c> Um it's inside of the income approach. Um it's inside of the income approach.
Committee:
House Judiciary Finance and Civil Law
Keywords:
Safe at Home, address confidentiality, domestic violence, sexual assault, stalking, harassment, victim privacy, survivor protection, confidential address, protected address, secret address, identity protection, residential confidentiality, program participant, nondiscrimination, court disclosure, protective order, service of process, driver's license, state ID
OK
Oklahoma 2026 Regular Session
Senate legislative Session Mar 23rd, 2026 at 01:30 pm
Oklahoma Senate Floor Meeting
Bills:
SB1521 , SB372 , SB1232 , SB1307 , SB1338 , SB1390 , SB1451 , SB1463 , SB1558 , SB1567 , SB1595 , SB1621 , SB1734 , SB1749 , SB1827 , SB1833 , SB1991 , SB1992 , SB63 , SB2063 , SB2180 , SB1198 , SB80
Keywords:
artificial intelligence, AI, generative AI, chatbot, conversational AI, companion AI, AI companion, virtual companion, chatbot regulation, minor safety, child online safety, parental controls, content moderation, self-harm, suicidal ideation, crisis intervention, mental health claims, romantic AI, emotional dependence, app store