SB342 Alabama 2018 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2018
Title
Income tax credit only offset tax liability derived from non-Alabama sources, Sec. 40-18-21 am'd.
Description
<p class="bill_description"> Under current law, Alabama individual
residents are entitled to an income tax credit for
taxes paid directly or on their behalf to other
states and territories</p><p class="bill_description">
This bill provides that the income tax
credit on income derived from sources outside of
the state only offset the portion of the taxpayer’s
income tax liability that is attributable to income
derived from non-Alabama sources</p><p class="bill_entitled_an_act"> To amend Section 40-18-21, Code of Alabama 1975,
relating to the income tax credit for taxes paid on income
from sources outside the state; and to provide that the income
tax credit for taxes paid on income from sources outside the
state only offset the portion of the taxpayer’s income tax
liability that is attributable to income derived from
non-Alabama sources.
</p>
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 1, 2018 | S | Pending third reading on day 17 Favorable from Finance and Taxation Education |
| March 1, 2018 | S | Read for the second time and placed on the calendar |
| February 22, 2018 | S | Read for the first time and referred to the Senate committee on Finance and Taxation Education |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | February 28, 2018 | Room 727 *Public Hearing & Vote* at 10:30 | Senate F&TE Hearing |
| Hearing | May 17, 2017 | Room 429 at 00:00 | House SG Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB342 Alabama 2018 Session - Introduced |