Supplement: AL HB391 | 2022 | Regular Session | HB391 for Finance and Taxation General Fund
For additional supplements on Alabama HB391 please see the Bill Drafting List
Bill 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.
Status: 2022-04-05 - Forwarded to Executive Department [HB391 Detail]
Download: Alabama-2022-HB391-HB391_for_Finance_and_Taxation_General_Fund.html
Bill 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.
Status: 2022-04-05 - Forwarded to Executive Department [HB391 Detail]
Download: Alabama-2022-HB391-HB391_for_Finance_and_Taxation_General_Fund.html
| Committee: Finance and Taxation General Fund | Sponsor: Clouse |
| Analyst: JT Mathis | Date: 03/15/2022 |
FISCAL NOTE
House Bill 391 as passed the House of Representatives would 1) reduce the minimum Business Privilege Tax (BPT) due for tax year 2023 from $100 to $50, and 2) eliminate the minimum BPT due beginning with tax year 2024 and thereafter. These provisions would reduce receipts to the State General Fund by an estimated $11.5 million in Fiscal Year 2023 and $23 million in Fiscal Year 2024 and each fiscal year thereafter.
| Greg Albritton, Chairperson Finance and Taxation General Fund |
