Under current law, a financial institution doing business in Alabama is subject to the Alabama financial institution excise tax. Financial institutions operating in Alabama and other states are required to allocate and apportion their income to Alabama
This bill will clarify the calculation of taxable income for credit unions under the Alabama financial institution excise tax law and would further provide for assessments and refunds
Relating to financial institution excise tax; to update existing law to provide clarification on the calculation of taxable income for credit unions; and to further provide for assessments and refunds.
|February 2, 2021||H||Read for the first time and referred to the House of Representatives committee on Financial Services|
|Hearing||February 23, 2021||Room 617 at 11:00||House FS Hearing|