Loading chat...
AL SB159
Bill
AI Summary
-
Increases the health insurance premium income tax deduction for qualifying employees from 50 percent to 100 percent of amounts paid as premiums under employer-provided plans.
-
Increases the health insurance premium income tax deduction for qualifying employers from 50 percent to 100 percent of amounts paid on behalf of qualifying employees.
-
Applies to qualifying employees who are Alabama residents earning no more than $50,000 in wages annually (or $75,000 adjusted gross income, $150,000 if married filing jointly) and are employed by employers with fewer than 25 employees.
-
Effective for tax years beginning after December 31, 2010.
-
Becomes effective immediately upon passage and approval by the Governor.
Legislative Description
Income tax, qualifying employers and qualifying employees authorized tax deductions for 100 percent of amounts paid for health insurance premiums, Sec. 40-18-15.3 am'd.
Taxation
Last Action
Indefinitely Postponed
6/1/2011