(a) In computing net income for the purposes of the Income Tax Act of 1929, § 26-51-101 et seq., there is allowed as a deduction in addition to all other deductions allowed by law for the:
(1) Amount paid by a volunteer firefighter and not reimbursed by the fire department or firefighting unit that the volunteer firefighter serves to purchase firefighting equipment required by the fire department or firefighting unit; and
(2) Loss of value of personal property of a volunteer firefighter that is damaged or destroyed in the course of his or her participation in fire suppression, rescue, pump operation, or other firefighting activity as a volunteer firefighter.
(b) The deduction allowed under subsection (a) of this section shall not exceed one thousand dollars ($1,000).
(c) As used in this section, "volunteer firefighter" means a member of a fire department or firefighting unit who:
(1) Actively engages in fire suppression, rescue, pump operation, or other firefighting activity; and
(2) Receives less than five thousand dollars ($5,000) in total compensation during the taxable year from the volunteer fire department or firefighting unit that the volunteer firefighter serves.
(d) The Director of the Department of Finance and Administration may promulgate rules to implement this section.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.