HB643 Alabama 2019 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2019
Title
Income tax, deductions for federal FICA taxes, tax on wages removed, self-employment taxes reduced, Sec. 40-18-15 am'd.
Description
In determining the amount of income that is subject to tax under current law, taxpayers are allowed to deduct, from income, the full amount of Federal Insurance Contribution Act (FICA) taxes withheld from wages. Under current law, remaining regular use tax proceeds are distributed to the Education Trust Fund and the General Fund
This bill would amend Sections 40-18-15 and 40-23-85, Code of Alabama 1975, to remove the deduction for FICA taxes paid and to modify the disposition of funds derived from use taxes
To amend Sections 40-18-15 and 40-23-85, Code of Alabama 1975, relating to income and use tax, to remove the deduction for FICA taxes paid and to modify the distribution of use taxes paid.
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 28, 2019 | H | Read for the first time and referred to the House of Representatives committee on Fiscal Responsibility |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB643 Alabama 2019 Session - Introduced |