Under existing law, the state levies an income tax upon all residents of the state and upon nonresidents who receive income from Alabama sources. Also, under existing law, certain retirement income is exempt from taxation
This bill would exempt from taxation retirement income from an institution of higher education meeting certain criteria
To amend Section 40-18-19, Code of Alabama 1975, relating to exemptions from the levy of state income tax, to exempt from taxation retirement income from an institution of higher education meeting certain criteria.
|March 2, 2010||Read for the first time and referred to the Senate committee on Fiscal Responsibility and Accountability|
|Bill Text||SB483 Alabama 2010 Session - Introduced|