SB425 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Limited liability companies, certain owners not liable for non-income taxes solely based on partnership classification, and to express intent, Secs. 10A-5-3.02, 40-29-72 am'd.
Description
This bill would clarify that certain owners of limited liability companies are not personally liable for non-income taxes solely because the company is classified as a partnership for Alabama income tax purposes
To amend Sections 10A-5-3.02 and 40-29-72, Code of Alabama 1975, to clarify that certain owners of limited liability companies are not personally liable for the company's non-income taxes solely because the company is classified as a partnership for Alabama income tax purposes.
Subjects
Business and Commerce
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 20, 2012 | Read for the first time and referred to the Senate committee on Finance and Taxation Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB425 Alabama 2012 Session - Introduced |