Ala. Code § 40-18-35.3

Current through the 2024 Regular Session.

Section 40-18-35.3 - Deductions from federal taxable for amounts included in income under 26 U.S.C. Section 118(b)(2)

The amount of any contribution by the State of Alabama or any political subdivision thereof computed in accordance with 26 U.S.C. § 118(b)(2), to the extent that the amount is included in the corporation's federal taxable income pursuant to 26 U.S.C. § 118(b)(2) shall be deducted from federal taxable income for purposes of computing taxable income under this chapter.

Ala. Code § 40-18-35.3 (1975)

Added by Act 2021-1,§ 8, eff. 2/12/2021, op. for contributions made on or after December 23, 2017.

See Act 2021-1, § 13.