In determining the amount of income that is subject to tax under current law, taxpayers are allowed to deduct, from income, the full amount of Federal Insurance Contribution Act (FICA) taxes withheld from wages. Under current law, remaining regular use tax proceeds are distributed to the Education Trust Fund and the General Fund
This bill would amend Sections 40-18-15 and 40-23-85, Code of Alabama 1975, to remove the deduction for FICA taxes paid and to modify the disposition of funds derived from use taxes
To amend Sections 40-18-15 and 40-23-85, Code of Alabama 1975, relating to income and use tax, to remove the deduction for FICA taxes paid and to modify the distribution of use taxes paid.
|May 28, 2019
|Read for the first time and referred to the House of Representatives committee on Fiscal Responsibility
|HB643 Alabama 2019 Session - Introduced