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2017 Code of Alabama
Title 40 - REVENUE AND TAXATION.
Chapter 18 - INCOME TAXES.
Article 1 - General Provisions.
Section 40-18-17 - Items not deductible.
Universal Citation: AL Code § 40-18-17 (2017)
Section 40-18-17Items not deductible.
In computing net income, no deduction shall in any case be allowed in respect of personal, living, or family expense; any amount paid out for new buildings or for permanent improvements or betterment made to increase the value of any property or estate; any amount expended in restoring property or in making good the exhaustion thereof, for which an allowance is or has been made; or premiums paid on any life insurance policy covering the life of any officer or employee or of any person financially interested in any trade or business carried on by the taxpayer when the taxpayer is directly or indirectly a beneficiary under such policy.
(Acts 1935, No. 194, p. 256; Code 1940, T. 51, §387.)
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