HB511 Alabama 2021 Session

Summary

Primary Sponsor

Chip Brown Representative

Republican

Co-Sponsor

Rhett Marques

Session

Regular Session 2021

Title

Taxation, ad valorem tax, sales and use taxes, commercial fishing vessels and equipment exempt from ad valorem taxation, levy a rate differential of one and one-half percent on purchase and storage of vessels and machinery used for commercial fishing, Secs. 40-9-1, 40-23-1, 40-23-4, 40-23-37, 40-23-60, 40-23-63 am'd.

Description

Under existing law, all vessels and equipment thereon, used predominantly in the business of commercial shrimping, are exempt from ad valorem tax. This bill would exempt all business of commercial fishing from ad valorem tax.

Under existing law, the sale of commercial fishing vessels and machinery and the materials and equipment used by commercial fishermen to capture or attempt to capture fish or other seafood are not exempt from sales and use tax. This bill would create a sales and use tax rate differential of one and one-half percent for the purchase and storage of all vessels and machinery used in the process of commercial fishing. This bill will also exempt bait and all materials and equipment used in the process of commercial fishing from sales and use tax.

This bill would define commercial fishing and commercial fishing vessels for the purpose of ad valorem taxation and sale and use taxation.

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Subjects

Taxation