SB156 Alabama 2013 Session
Bill Summary
Under existing law, an Alabama resident who incurs a capital loss is allowed to use a deduction for state income tax purposes only in the year in which the loss is incurred
Also under existing law, a net operating loss for state income tax purposes may be carried back two taxable years from the year in which the loss is incurred
This bill would allow an Alabama resident who incurs a capital loss to carry forward the loss for state income tax purposes for three years from the year in which the loss is incurred
To amend Section 40-18-15, Code of Alabama 1975, relating to income tax deductions for individuals; to allow each Alabama resident who incurs a capital loss to carry forward the loss for state income tax purposes from the year in which the loss is incurred.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 7, 2013 | S | Indefinitely Postponed |
| February 14, 2013 | S | Finance and Taxation Education first Amendment Offered |
| February 14, 2013 | S | Read for the second time and placed on the calendar 1 amendment |
| February 7, 2013 | S | Read for the first time and referred to the Senate committee on Finance and Taxation Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB156 Alabama 2013 Session - Introduced |