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Bill Would Eliminate Alabama State Income Tax on Most 401(k) Earnings
DecaturDaily.com 
Dec. 7, 2016 "Currently, retirement incomes from defined contribution plans such as 401(k)s are subject to state income tax. But Alabamians who have defined benefit plans -- including pensions from the state or federal government and the Tennessee Valley Authority -- are not taxed on their retirement income.... Once fully implemented in 2022, [the] proposal would cost the state's education budget about $109 million in tax revenue[.]" MORE >> |
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