SB 407 Makes all of an individual's federal income tax liability deductible on their state taxes
Sponsor: Wallingford
LR Number: 1792S.01I Fiscal Note available
Committee: Ways and Means
Last Action: 3/28/2013 - Hearing Conducted S Ways and Means Committee Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2013

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Current Bill Summary

SB 407 - Currently an individual taxpayer may deduct up to $5,000 of their federal income tax liability on a single taxpayer return and $10,000 on a combined taxpayer return. This act removes the limits, beginning with the 2014 tax year, so that all of an individual taxpayer's federal income tax liability is deductible.