SB47 Alabama 2023 Session

Summary

Primary Sponsor

Arthur Orr Senator

Republican

Session

Regular Session 2023

Title

Relating to individual income taxes; to amend Section 40-18-5, Code of Alabama 1975, to eliminate the two percent tax rate on the first five hundred dollars ($500) of taxable income for single persons, heads of families, and married persons filing separate returns and would also eliminate the two percent tax rate on the first one thousand dollars ($1,000) of taxable income for married persons filing a joint return.

Description

Under existing law, Alabama levies an individual income tax at rates ranging from two percent on taxable income to a top rate of five percent on taxable income.

This bill would eliminate the two percent tax rate on the first five hundred dollars ($500) of taxable income for single persons, heads of families, and married persons filing separate returns and would also eliminate the two percent tax rate on the first one thousand dollars ($1,000) of taxable income for married persons filing a joint return.

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Subjects

Taxation and revenue, individual income tax lowest bracket eliminated