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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. SB 342

SB 342

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In Committee
Contents hide
  • 1 Bill Summary
  • 2 Bill Actions
  • 3 Bill Calendar
  • 4 Bill Text
  • 5 Bill Documents

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 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

Download SB 342 PDF

Bill Documents

Type Link
Bill Text SB 342 - Introduced

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