810-3-15-.14 Deductions Allowable for Retirement Savings - IRA, SEP, and Keogh Plans.

        (1) A deduction is allowed for an individual's qualified retirement contribution in accordance with 26 U.S.C. §219.

        (2) A deduction is allowed for contributions of an employer to an employees' trust or annuity plan, or for compensation paid or accrued on account of an employee under a deferred-payment plan, in accordance with 26 U.S.C. §404.

        (3) For interpretation of federal statutes adopted by the Alabama Legislature, see Rule 810-3-1.1-.01, Operating Rules.

Author:     Roger Frost, Sharon Norman, Hugh Kirkland, James Lucy, Lee Johnson, and Betty Knowles
Authority: §§40-2A-7(a)(5) and 40-18-15, Code of Alabama 1975
History:    Adopted October 1, 1982. Amended July 27, 1988. Amended May 15, 1992.
               Repealed and New: Filed December 14, 1999, effective January 18, 2000.