SB342 Alabama 2018 Session

Summary

Primary Sponsor

Rodger Smitherman Senator

Democrat

Session

Regular Session 2018

Title

Income tax credit only offset tax liability derived from non-Alabama sources, Sec. 40-18-21 am'd.

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.

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.

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Subjects

Taxation