Section 21-5-508 - Taxation of deferred income

A sum deferred under the deferred compensation program is not subject to income taxation until a distribution is made to the employee or beneficiary unless an employee has by contract directed that his or her contribution is to be deposited into a Roth deferred compensation plan.Amended by Act 2013, No. 452,§ 2, eff. 8/16/2013.Acts 1975, No. 669, § 6; A.S.A. 1947, § 12-1623; Acts 2007, No. 1009, § 17.

A sum deferred under the deferred compensation program is not subject to income taxation until a distribution is made to the employee or beneficiary unless an employee has by contract directed that his or her contribution is to be deposited into a Roth deferred compensation plan.Amended by Act 2013, No. 452,§ 2, eff. 8/16/2013.Acts 1975, No. 669, § 6; A.S.A. 1947, § 12-1623; Acts 2007, No. 1009, § 17.