TO REDUCE THE INCOME TAX RATES FOR INDIVIDUALS, TRUSTS, ESTATES, AND CORPORATIONS.

Summary

The law revises the state’s personal income‑tax schedule, creating lower rates for most earners and adding a small credit for incomes just above $94,700. It also introduces a new, lower‑rate structure for both domestic and foreign corporations beginning in 2027. These changes are intended to lessen tax burdens and promote economic activity.

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