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Tax Announcements Qualifying Employers Deduction for The Alabama Legislature passed Act Number 2008-559 during the 2008 legislative session. The new law allows qualifying employers to deduct an additional fifty percent (50%) of the amount paid as health insurance premiums on qualifying employees in connection with an employer-provided health insurance plan. Qualifying employers are defined in the law as employers with less than 25 employees. Qualifying employees are defined in the law as those employees that are Alabama residents, earn no more than $50,000 of wages, and report no more than $75,000 of Alabama Adjusted Gross Income ($150,000 if married filing jointly). The new deduction should be claimed on the Alabama corporate income tax return, Form 20C, page 1, line 11b. Alabama Department of Revenue Regulation Number 810-3-15.3-.01, Deductions for Small Business Health Insurance Premiums. Also see: |
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