HB40 Alabama 2015 2nd Special Session

Updated Jul 24, 2021

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.
Subjects: Taxation

Read for the first time and referred to the House of Representatives committee on Ways and Means Education