As Amended
SEC. 27-7-16. Gross income; treatment of employees' pension trusts, tax-sheltered annuities, deferred compensation plans, self-employed retirement plans, and individual retirement accounts or retirement bonds.
Amounts contributed in the taxable year by employees and/or self-employed individuals, including partners, to an employees' pension trust, tax-sheltered annuity plan, authorized deferred compensation plan, self-employed retirement plan, individual retirement account or retirement bond which meets the requirements of a qualified plan under the provisions of the Internal Revenue Code of 1986, as amended, shall be deductible from gross income, subject to the conditions and limitations of the Internal Revenue Code of 1986, as amended.
SOURCES: Laws, 1977, ch. 402, Secs. 1, 2; 1979, ch. 302, Sec. 4; 1986, ch. 393, Sec. 3; 1987, ch. 423, Sec. 2; 1991, ch. 524, Sec. 11, eff from and after January 1, 1991. Laws, 1995, ch. 346, Sec. 1, eff from and after January 1, 1995