HI HB1092

Removes the deduction for state taxes paid for all corporate taxpayers and individual taxpayers with federal adjusted gross income of $70,000 or more (single filers), $105,000 or more (head of household), or $140,000 or more (joint/surviving spouse filers)

Amends Hawaii Revised Statutes Section 235-2.4(h) to make Internal Revenue Code sections 164(a)(3) and 164(b)(5) inoperative for corporate taxpayers while allowing the deduction only for lower-income individual taxpayers below the specified thresholds

Eliminates multiple parts of the original bill and consolidates the measure into four sections focused on the state tax deduction limitation

Takes effect July 1, 2117 and applies to taxable years beginning after December 31, 2010