HB10 Alabama 2022 Session

Summary

Primary Sponsor

Chip Brown Representative

Republican

Session

Regular Session 2022

Title

Taxation, commercial fishing, ad valorem tax exemption for vessels and equipment, sales and use taxes exemption for bait, levy of excise tax at 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 would also exempt bait and all materials and equipment used in the process of commercial fishing from sales and use tax.

This bill would also 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