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  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2018 Alabama Legislative Regular Session
  5. 2018 Alabama Senate Bills
  6. SB342 Alabama 2018 Session

SB342 Alabama 2018 Session

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In Committee

Bill Summary

Sponsors
  • Rodger Smitherman
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

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.

Subjects
Taxation

Bill Actions

Action DateChamberAction
March 1, 2018SPending third reading on day 17 Favorable from Finance and Taxation Education
March 1, 2018SRead for the second time and placed on the calendar
February 22, 2018SRead for the first time and referred to the Senate committee on Finance and Taxation Education

Bill Calendar

TypeDateLocationDescription
HearingFebruary 28, 2018Room 727 *Public Hearing & Vote* at 10:30Senate F&TE Hearing
HearingMay 17, 2017Room 429 at 00:00House SG Hearing

Bill Text

Download SB342 Alabama 2018 Session PDF

Bill Documents

TypeLink
Bill Text SB342 Alabama 2018 Session - Introduced
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