To the extent a taxpayer is not otherwise claiming deductions on federal income tax returns for contributions to medical savings accounts, amounts withheld from an individual's wages which are contributed to such individual's medical savings account, pursuant to section 39-22-504.7, are excluded from an individual's federal taxable income for purposes of the state income tax imposed by section 3922-104.
Source: L. 94: Entire section added, p. 745, § 4, effective January 1, 1995. L. 97: Entire section amended, p. 643, § 10, effective May 1.
Cross references: For other provisions concerning adjustment to federal taxable income, see § 39-22-104.