SB 407 – Makes all of an individual's federal income tax liability deductible on their state taxes

• Sponsor: Wallingford
• LR Number: 1792S.01I
• Committee: Ways and Means
• Last Action: 3/28/2013 - Hearing Conducted S Ways and Means Committee
• Effective Date: August 28, 2013

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.

MIKE HAMMANN

Amendments

No Amendments Found.