- Introduced -

SB 590 - Current law limits the deduction for federal income taxes paid by individuals to $5,000 for single filers ($10,000 for people filing a combined return); the deduction for corporations is limited to 50% of the federal income taxes paid. This act removes those limitations and allows full deductibility of federal income taxes for individuals beginning January 1, 1999, and for corporate taxpayers beginning September 1, 1998.

RUSS HEMBREE