A Look Ahead to 2022
From reducing income tax to lowering the sales tax on used cars, there are several pieces of tax legislation passed in 2021 that will take effect on January 1, 2022. In the most recent special session, the General Assembly passed Act 1 and Act 2, which are identical pieces of legislation that reduce the top income tax rate for individuals from 5.9% to 4.9% incrementally over the next four years.
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