HB207 Alabama 2013 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2013
Title
Corporate income tax, taxable income to include any amounts in excess of federal domestic production activities deduction, Sec. 40-18-34 am'd.
Description
Under existing law, Alabama levies an income tax on corporations. Alabama corporate income tax law is linked to federal corporate income tax law, which allows a domestic production activities deduction that is equal to a percentage of income earned from domestic production or taxable income, whichever is less
This bill would limit the Alabama deduction to three percent of qualifying income
To amend Section 40-18-34, Code of Alabama 1975, to limit the domestic production activities deduction to three percent of qualified production activities income or taxable income, whichever is less.
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 7, 2013 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB207 Alabama 2013 Session - Introduced |