Bill Text: HI HB1092 | 2011 | Regular Session | Amended
Bill Title: Taxation; Tax Improvement
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Enrolled - Dead) 2011-04-28 - (H) Conference Committee Meeting will reconvene on Friday 04-29-11 3:15PM in conference room 309. [HB1092 Detail]
Download: Hawaii-2011-HB1092-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1092 |
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TWENTY-SIXTH LEGISLATURE, 2011 |
H.D. 1 |
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STATE OF HAWAII |
S.D. 3 |
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A BILL FOR AN ACT
RELATING TO TAXATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to amend Hawaii tax law to institute improvements and equity among taxpayers.
More specifically, this Act makes the deduction for state taxes paid inoperative for corporate taxpayers and the following individual taxpayers:
(1) An individual filer with federal adjusted gross income of $70,000 or more;
(2) A head of household with federal adjusted gross income of $105,000 or more; and
(3) A joint or surviving spouse filer with federal adjusted gross income of $140,000 or more.
SECTION 2. Section 235-2.4, Hawaii Revised Statutes, is amended by amending subsection (h) to read as follows:
"(h) Section 164 (with respect to taxes)
of the Internal Revenue Code shall be operative for the purposes of this
chapter, except that [sections]:
(1) Sections 164(a)(6) and 164(b)(6)
shall not be operative for the purposes of this chapter[.]; and
(2) The deductions under sections 164(a)(3) and 164(b)(5) shall not be operative for corporate taxpayers and shall be operative only for the following individual taxpayers:
(A) A taxpayer filing a single return or a married person filing separately with a federal adjusted gross income of less than $70,000;
(B) A taxpayer filing as a head of household with a federal adjusted gross income of less than $105,000; and
(C) A taxpayer filing a joint return or as a surviving spouse with a federal adjusted gross income of less than $140,000."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2117, and shall apply to taxable years beginning after December 31, 2010.
Report Title:
Taxation; Tax Improvement
Description:
Makes the deduction for state taxes paid inoperative for corporate taxpayers and: (1) An individual filer with federal adjusted gross income of $70,000 or more; (2) A head of household with federal adjusted gross income of $105,000 or more; and (3) A joint or surviving spouse filer with federal adjusted gross income of $140,000 or more. Effective 7/1/2117 and applicable to taxpayer years beginning after 12/31/2010. (SD3)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
