Malika Sanders-Fortier Did Not Vote on this Legislation.
Title: Exempts Certain Tax Credits from the Calculation of Income Tax Deductions
Signed by Governor Kay Ivey
Title: Exempts Certain Tax Credits from the Calculation of Income Tax Deductions
Vote to pass a bill that exempts certain tax credits from the calculation of income tax deductions.
Exempts reductions in federal income taxes as a result of the American Rescue Plan Act of 2021 from the calculation of federal income tax deductions for the tax year ending December 31, 2021 (Sec. 1, Pg. 2).
Exempts any federal income tax reductions attributed to the Federal Child Tax Credit, Earned Income Tax Credit, and the Federal Child and Dependent Care Tax Credits from the calculation of federal income tax deductions for the tax year ending December 31, 2021 (Sec. 1, Pg. 2).
Authorizes the Department of Revenue to adopt rules to implement this act (Sec. 3, Pg. 4).
Specifies that this act takes effect immediately upon passage and approval by Governor (Sec. 4, Pg. 4).
Title: Exempts Certain Tax Credits from the Calculation of Income Tax Deductions
Title: Exempts Certain Tax Credits from the Calculation of Income Tax Deductions
Title: Exempts Certain Tax Credits from the Calculation of Income Tax Deductions