HB40 Alabama 2015 2nd Special Session

Summary

Primary Sponsor

Jim Patterson

Republican

Session

Second Special Session 2015

Title

Taxation, income tax, sale or exchange of property, captial loss limitation same as allowed under federal tax law, Sec. 40-18-8 am'd.

Description

Currently, taxpayers are allowed to claim a deduction for capital losses that may be in excess of the amounts allowable for federal tax purposes.

This bill would make Alabama's capital loss limitations consistent with its federal counterparts.

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Subjects

Taxation