|SB 0063||Restores full federal income tax deductibility for individuals|
|LR Number:||S0276.01I||Fiscal Note:||0276-01|
|Committee:||Ways and Means|
|Last Action:||02/16/99 - Hearing Conducted S Ways & Means Committee||Journal page:|
|Effective Date:||August 28, 1999|
SB 63 - Current law limits the deduction for federal income taxes paid by individuals to $5,000 for single filers and $10,000 for married couples filing a combined return. This act removes those limitations and allows full deductibility of federal income taxes for individuals beginning January 1, 2000.
The act is similar to SB 590 (1998).