SB144 Alabama 2020 Session

Sponsors

Session

Regular Session 2020

Title

Income tax deduction, deduction based on federal income tax paid, limit established, const. amend.

Description

<p class="bill_description"> Under existing law, individual income taxpayers are allowed to deduct the amount of federal income taxes paid or accrued within the year</p><p class="bill_description"> This bill would amend Amendment 225 to the Constitution of Alabama of 1901, now appearing as Section 211.04 of the Official Recompilation of the Constitution of Alabama of 1901, as amended; to limit the amount of federal income taxes paid or accrued an individual income taxpayer can deduct to a maximum of $6,000 for individuals filing as single, head of household, and married filing separately and $12,000 for individuals filing as married filing joint</p><p class="bill_description"> Under existing law, the state imposes sales or use taxes upon certain persons, firms, or corporations. Sales of certain items are taxed at a reduced rate. Sales of other items are exempt from the taxes</p><p class="bill_description"> This bill would exempt sales of food from state sales and use taxes beginning October 1, 2020</p><p class="bill_entitled_an_act"> To propose an amendment to the Constitution of Alabama of 1901, as amended; to amend Amendment 225 to the Constitution of Alabama of 1901, now appearing as Section 211.04 of the Official Recompilation of the Constitution of Alabama of 1901, as amended; limiting the amount of federal income taxes paid or accrued an individual income taxpayer can deduct to a maximum of $6,000 for individuals filing as single, head of household, and married filing separately and $12,000 for individuals filing as married filing joint; and to exempt sales of food from state sales and use taxes beginning October 1, 2020. </p>

Subjects

Constitutional Amendments