Thanks for the response, I am still a little confused though…does this code snippet basically do what you are suggesting? This code should toggle the state of an LED when I press the switch and not be effected if the switch is held down.

Code:
SW var GPIO.1
LED1 var GPIO.2
OnOff var bit
Swset var bit

Startup:
Led1=0
	OnOff=0
GOTO Main

Main:
…….
…..do regular code stuff
……
if OnOFF=1 then 
    led1=1
else
    led1=0
endif
GOSUB Debounce:
GOTO Main

Debounce:
      If SW=0 then
      	Swset=0			;used to determine if switch is held down
      	RETURN			;if switch is not pressed return to main
	Endif
      If swset=1 then RETURN		;this returns to the main loop if SW is held down
      If SW=1 then PAUSEUS 100       ;if switch is pressed pause 100us
      IF SW=0 then RETRN		;if switch is now not pressed return to main
      IF SW=1 then
     	OnOff=OnOff+1   ;if switch is still pressed toggle OnOff
            Swset=1			;used to determine if switch is held down
      Endif
RETURN