Alabama HB665: Taxation; to amend 40-18-14, Code of Alabama 1975, relating to overtime compensation.

What the bill says

A bill 21 TO BE ENTITLED 22 AN ACT 23 24 Relating to income taxes; to amend Section 40-18-14, 25 Code of Alabama 1975; to reinstate the exemption of overtime 26 compensation from income tax; to require the Department of 27 Revenue and the Alabama Commission on the Evaluation of 28 Services to conduct an economic impact study on the effects of Page HB665 INTRODUCED 29 the exemption; to require public posting of the study; and to 30 make nonsubstantive, technical revisions to update the 31 existing code language to current style. 32.

From the introduced text:

A BILL 21 TO BE ENTITLED 22 AN ACT 23 24 Relating to income taxes; to amend Section 40-18-14, 25 Code of Alabama 1975; to reinstate the exemption of overtime 26 compensation from income tax; to require the Department of 27 Revenue and the Alabama Commission on the Evaluation of 28 Services to conduct an economic impact study on the effects of Page HB665 INTRODUCED 29 the exemption; to require public posting of the study; and to 30 make nonsubstantive, technical revisions to update the 31 existing code language to current style. 32 BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: 33 Section 1. Section 40-18-14, Code of Alabama 1975, as 34 last amended by Acts 2024-437, and 2024-447, 2024 Regular 35 Session, is amended to read as follows: 36 "§40-18-14 37 (a) The term "gross income" as used herein: 38 (1) Includes gains, profits , and income derived from 39 salaries, wages, or compensation for personal services of 40 whatever kind, or in whatever form paid, including the 41 salaries, income, fees, and other compensation of state, county, and municipal officers and employees, or from 43 professions, vocations, trades, business, commerce or sales, or dealings in property whether real or personal, growing out 45 of ownership or use of or interest in such property; also from 46 interest, royalties, …

Sponsors

• Daniels, Anthony (D, HD-053) · primary sponsor
• Lands, Marilyn (D, HD-010)
• Chestnut, Prince (D, HD-067)