HB207 Alabama 2013 Session
Updated Jul 24, 2021
Summary
- Primary Sponsor
Thomas JacksonRepresentativeDemocrat- 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.
- Subjects
- Taxation
Bill Actions
H
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
Bill Text
Documents
Source: Alabama Legislature