Providing a deduction from the individual and corporate income taxes for the amount of certain income derived from indigent representation by an eligible law firm, and including retroactive applicability provisions

This bill provides a deduction from the individual income or corporate income tax for the amount of certain income derived from indigent representation by an eligible law firm. The bill defines “eligible law firm” to mean a law firm in this state that has two or more attorneys that practice law in the law firm for at least half of each tax year during which the law firm is engaged in an eligible case.10 (appointment of counsel by court). appointment, has been licensed to practice law for fewer than years. 7. The current hourly rate is $86 per hour for a class “A” felony, $81 per hour for a class “B” felony, and $76 per hour for all other cases. For individual income tax purposes, a taxpayer who is a partner of a partnership, a shareholder of a subchapter S corporation, or a member of a limited liability corporation may deduct the portion of the amount of the deduction calculated under the bill based on the taxpayer’s pro rata share of the profits or losses from the partnership or subchapter S corporation. The bill applies retroactively to tax years beginning on or after January 1, 2025.