HB13 Alabama 2015 2nd Special Session

Summary

Primary Sponsor

Lynn Greer

Republican

Session

Second Special Session 2015

Title

Taxation, business privilege, maximum due increased, financial institution excise tax return due date revised, Secs. 10A-2-16.22, 40-14A-22, 40-14A-25 am'd.

Summary

HB13 would raise the business privilege tax amounts, adjust financial-institution tax rules, and align filing due dates with the financial institution excise tax.

What This Bill Does

The bill increases the annual maximum business privilege tax from 15,000 to 25,000 and raises the minimum tax from 100 to 125, along with higher net-worth tax rates. It requires financial institutions with Alabama deposits to calculate their tax based on those deposits and implements tiered deposit-based rates. It changes the business privilege tax due date for taxpayers subject to the financial institution excise tax from March 15 to April 15 to match corresponding tax returns. It also codifies certain provisions from prior acts into Section 40-14A-22 and includes other technical corrections.

Who It Affects

• Businesses subject to the Alabama business privilege tax (corporations, LLCs, and other entities) who would see higher taxes due to the increased maximum and minimum and higher net-worth tax rates.
• Financial institutions with in-state Alabama deposits, whose tax will be calculated based on those deposits, subject to adjusted minimum taxes and a new April 15 filing deadline for related returns.

Key Provisions

• Increase the annual maximum business privilege tax from $15,000 to $25,000 and raise the minimum tax from $100 to $125, with higher tax rates for net worth.
• Require financial institutions with Alabama deposits to calculate their tax based on those deposits and move the business privilege tax due date for financial-institution-related taxpayers from March 15 to April 15, while codifying related provisions from prior acts.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Taxation