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
<p class="bill_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</p><p class="bill_entitled_an_act"> 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.
</p>
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 |