Department Director Date
Alan Hunter for GHG 3/13/02
LSB TEMPLATE (rev. 6-98)
03/14/02 9:28 AM
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This bill would create a tax credit for the purchase of a gun safe or other firearm safety equipment.
PURPOSE OF THE BILL
It appears the intent of the author’s office, is to promote gun safety.
This bill is a tax levy and would be effective immediately upon enactment. It would be operative for
taxable years beginning on or after January 1, 2002.
Current federal and state laws allow businesses to deduct ordinary and necessary expenses.
Current federal and state laws allow individuals to deduct certain personal or business expenses,
such as home mortgage interest, charitable contributions, medical expenses, taxes, and work-related
expenses. A business could deduct the cost of a gun safe or firearm safety equipment, if considered
an ordinary and necessary expense. However, the same equipment for an individual would be
generally considered a non-deductible personal expense.
Current federal and state laws provide for various tax credits designed to provide tax relief for
taxpayers who incur certain expenses (e.g., child and dependent care credits) or to influence
business practices and decisions.
Franchise Tax Board
ANALYSIS OF ORIGINAL BILL
Gun Safes Or Other Firearm Safety Equipment Credit
Senate Bill 1275
Introduced January 15, 2002
This bill would create a Pers