Under current law, the business privilege tax due date for financial institutions is March 15. The Alabama excise tax return filed by financial institutions is due April 15. Taxpayers often need to extend the filing date of the business privilege tax return in order to have complete information not available until the financial institution excise tax return is completed. All other entity types have corresponding due dates for both the business privilege tax return and the income tax return.
This bill would amend the business privilege tax due date for taxpayers subject to the financial institution excise tax from March 15 to April 15, to provide for corresponding tax return due dates for financial institutions.
Pending third reading on day 27 Favorable from Finance and Taxation General Fund
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
Motion to Read a Third Time and Pass adopted Roll Call 648
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 Commerce and Small Business
Source: Alabama Legislature