HB504 Alabama 2010 Session
Summary
- Primary Sponsor
-
Charles O. NewtonRepublican - Session
- Regular Session 2010
- Title
- Income tax, estimated individual and corporate payments to conform to federal system, individual estimated tax payment threshold increased, corporate estimate tax payment threshold decreased, Secs. 40-18-80, 40-18-80.1 am'd.; Secs. 40-18-82, 40-18-83, 40-18-83.1, 40-18-85 repealed
- Description
Under current law, individual income taxpayers are required to make estimated tax payments if their income exceeds certain amounts, and corporate income taxpayers are required to make estimated tax payments if their tax liability exceeds $5,000.
This bill will simplify individual income tax and corporate income tax estimate payments by conforming the state system with the federal system.
This bill will also increase the estimated tax payment threshold for individuals and decrease the estimated tax payment threshold for corporations.
- Subjects
- Taxation
Bill Actions
Forwarded to Governor on April 8, 2010 at 2:20 p.m. on April 8, 2010.
Assigned Act No. 2010-568.
Enrolled
Signature Requested
Clerk of the House Certification
Passed Second House
Motion to Read a Third Time and Pass adopted Roll Call 846
Third Reading Passed
Read for the first time and referred to the Senate committee on Finance and Taxation Education
Read for the second time and placed on the calendar
Motion to Read a Third Time and Pass adopted Roll Call 570
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the House of Representatives committee on Education Appropriations
Bill Text
Documents
Source: Alabama Legislature