HI HB2095

Amends Hawaii's tax code to limit employer deductions for employee benefits to an amount equal to 50 times the state's median household income for taxable years beginning after December 31, 2011.

Applies this limitation only to Section 162 (trade or business expenses) deductions under the Internal Revenue Code and does not restrict other deduction provisions.

Renumbers existing subsections in Section 235-2.4 from (h) through (dd) to (i) through (ee) to accommodate the new employee benefits limitation provision.