- Introduced -

SB 873 - This act phases in the full deductibility of federal income taxes paid for individual and corporate taxpayers as follows: for individuals (current deduction is $5,000 for singles and $10,000 for combined return filers) the deduction is increased in 1999 to $10,000/singles, $20,000/combined; for 2000 the deduction is $20,000/singles, $40,000 combined; and for tax years beginning on or after January 1, 2001, the full deduction is allowed.