HB 863 -- Federal Income Tax Deduction

Co-Sponsors:  Akin, Ostmann, Reid, Alter, Linton

This bill allows both individual and corporate income taxpayers
to fully deduct from income tax all federal income taxes paid by
the taxpayer beginning January 1, 2000.  Under current law,
individuals are allowed to deduct $5,000 for a single taxpayer
and $10,000 for a married couple.  Corporations may deduct 50%
of federal income taxes paid.