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Page 21665 <br /> H . B . NO. Hai <br /> 1 property owner tax credit that shall be deductible from the <br /> 2 taxpayer' s net income tax liability, if any, imposed by this <br /> 3 chapter for the taxable year in which the credit is properly <br /> 4 claimed. <br /> 5 (b) In the case of a partnership, S corporation, estate, <br /> 6 or trust, the tax credit allowable is for qualified expenses <br /> 7 incurred by the entity for the taxable year. The expenses upon <br /> 8 which the tax credit is computed shall be determined at the <br /> 9 entity level. Distribution and share of credit shall be <br /> 10 determined by rule. <br /> 11 (c) The primary residential property owner tax credit <br /> 12 shall be equal to $ multiplied by the number of the <br /> 13 taxpayer' s qualified exemptions. <br /> 14 (d) The director of taxation: <br /> 15 (1) Shall prepare any forms that may be necessary to claim <br /> 16 a tax credit under this section; <br /> 17 (2) May require the taxpayer to furnish reasonable <br /> 18 information to ascertain the validity of the claim for <br /> 19 the tax credit made under this section; and <br /> 20 (3) May adopt rules under chapter 91 necessary to <br /> 21 effectuate the purposes of this section. <br /> HB1665 HD1 HMS 2018-1776 2 <br /> 1111ffill113111111111111F1111�>II <br />