16th District State Representative Jason Petrie says the General Assembly will take up consideration of dropping the state income tax rate by another half a percent next session.
Petrie said that news was shared during the August Appropriations and Revenue Committee meeting.
Petrie shared the rate could drop to 3.5% and the formula in place is working well.
The task of dropping the rate has been deemed “extraordinarily difficult.”
The current income tax rate of four-percent, was introuduced on January 1, 2024, after triggers were met in 2022. Petrie represents all of Todd and Logan counties and a portion of Christian County.
