HB391 Alabama 2022 Session

Updated May 16, 2022

House Bill

Enacted

Current Status

Regular Session 2022

Session

Sponsor

Summary

Primary Sponsor: Steve Clouse Representative
Republican
Session: Regular Session 2022
Title: Business privilege tax, minimum business privilege tax for taxable years beginning after December 31, 2022, reduced a full exemption on amounts due of $100 or less for taxable years beginning after December 31, 2023, Section 40-14A-22 am'd.
Description: Under existing law, the minimum business privilege tax due for certain corporations, business trusts, limited liability entities, and disregarded entities is not less than $100.
This bill reduces the minimum business privilege tax of $100 to $50 for the taxable year beginning after December 31, 2022.
This bill also provides for a full exemption from the minimum business privilege tax due for taxable years beginning after December 31, 2023.
Subjects: Business Privilege Tax