Alabama § 40-18-35.2 Deductions from Federal Taxable for Amounts Included in Income Under 26 U.s.c. § 951A, Etc

Alabama Statutes

§ 40-18-35.2 — Deductions from Federal Taxable for Amounts Included in Income Under 26 U.s.c. § 951A, Etc

Alabama § 40-18-35.2

Title 40Revenue and Taxation

Ch. 18Income Taxes

Art. 1General Provisions

This text of Alabama § 40-18-35.2 (Deductions from Federal Taxable for Amounts Included in Income Under 26 U.s.c. § 951A, Etc) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 40-18-35.2 (2026).

Text

All amounts included in income under 26 U.S.C. § 951A shall be deducted from federal taxable income for purposes of computing taxable income under this chapter. However, any amount subtracted under this section is allowed only to the extent such amount is not deductible in determining federal taxable income. As to any amount subtracted under this section, there shall be added to such taxable income all expenses deducted under any section of 26 U.S.C. on the taxpayer’s return for the taxable year which are attributable, directly or indirectly, to such subtracted amount. The deduction provided by 26 U.S.C. § 250 shall apply only to the extent the same income was included in Alabama taxable income under this chapter.

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All amounts included in income under 26 U.S.C. § 951A shall be deducted from federal taxable income for purposes of computing taxable income under this chapter. However, any amount subtracted under this section is allowed only to the extent such amount is not deductible in determining federal taxable income. As to any amount subtracted under this section, there shall be added to such taxable income all expenses deducted under any section of 26 U.S.C. on the taxpayer’s return for the taxable year which are attributable, directly or indirectly, to such subtracted amount. The deduction provided by 26 U.S.C. § 250 shall apply only to the extent the same income was included in Alabama taxable income under this chapter.