Compliance May 5, 2004

Catching Up on EGTRRA Conformity

May 29, 2002 (PLANSPONSOR.com) - It's been almost a year since President Bush passed the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001, but several states are still behind in updating their legislation to reflect the changes.

Reported by

Camilla Klein

According to the American Council of Life Insurers, eight states are not yet in full conformity with the act as of May 22, specifically:

Mississippi, which has no language on the “catch up” provisions,
Pennsylvania, where no action is expected,
Arkansas, which has no 2002 session, is not, nor expected to soon be, in conformity, and
Arizona, Wisconsin, Massachusetts, New Jersey, Hawaii, where legislation is pending

Alaska, Washington, Wyoming, Texas, Florida, and Nevada have no state income tax to be impacted.