Ala. Admin. Code r. 810-3-15-.14

Current through Register Vol. 43, No. 1, October 31, 2024

Section 810-3-15-.14 - Deductions Allowable For Retirement Savings-IRA, SEP And Keogh Plans

(1) A deduction is allowed for an individual's qualified retirement contribution in accordance with 26 U.S.C. § 219.

(2) A deduction is allowed for contributions of an employer to an employees' trust or annuity plan, or for compensation paid or accrued on account of an employee under a deferred-payment plan, in accordance with 26 U.S.C. § 404.

(3) For interpretation of federal statutes adopted by the Alabama Legislature, see Rule 810-3-1.1 -.01, Operating Rules.

Authors: Roger Frost, Sharon Norman, Hugh Kirkland, James Lucy, Lee Johnson, Betty Knowles

Ala. Admin. Code r. 810-3-15-.14

Adopted September 30, 1982. Amended: Filed July 27, 1988; May 15, 1992. Repealed and New Rule: Filed December 14, 1999; effective January 18, 2000.

Statutory Authority:Code of Ala. 1975, § 40-18-15.