Total FY21 wine tax collections were $5.9 million. Previously, the tax only applied to businesses with a physical presence in the state. The existing $2.50/gallon tax on wine is extended to direct shippers of alcoholic beverages who do not have a physical presence in the state. The credit allows applicants to apply 50% of qualified capital investments against their tax liability, reducing their tax liablity by a maximum of 50%. Legislation enacted on restores the credit. A credit to incentivize salmon and herring processing expired on. Minimum Business Privilege Tax reductions/eliminationĮxemption of tangible business personal property from state ad valorem taxĮxtension of private hospital assessment set to expire in 2022Įxclusion of enhanced federal child tax credits from American Rescue Plan Act from calculation of federal income tax deduction for tax year 2021Ĭhange in distribution of Insurance Fees from State General Fund to Center for Risk and Insurance FundĪlaska's Fisheries Business Tax levies a tax on the value of fish (and other fisheries product) either processed in Alaska or exported out of Alaska. Extends the sunset date for five years through tax year 2027 Increases the annual cap on income tax credits Railroad tax credit for qualified railroad rehabilitation expenditures ‘Revenue Total’ is the sum of both tax and non-tax revenue collections.Īdjustments to range allowable for maximum dependent exemption adjusted gross income floor for optional standard deduction and minimum and maximum standard deduction for taxpayers ‘Non-tax Revenue’ refers to the total fee revenue collected. Towards the end of each state’s tax actions you will find rows that read ‘Tax Revenue,’ ‘Non-Tax Revenue’, and ‘Revenue Total.’ ‘Tax Revenue’ is the total tax revenue collected. Tax Type Categories: Alcoholic Beverages, Cigarette and Tobacco, Corporate Income, Health Care Related, Motor Fuels, Miscellaneous, Personal Income, Property Tax, Sales and Use Searching by tax type will allow you to view the changes states made in your selected category. To search by tax type, enter the tax type category into the search tool. Searching by state will show all tax actions and other revenue measures taken by that state. To search by state, type the name of a state into the search tool. You can also search the database by state or by tax type category. The search tool allows you to view 2022 state tax actions and other revenue measures using keywords.
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