The start date for the Alabama Legislature’s 2023 regular session is near: Tuesday, March 7. As we do annually, here are some of the major items of business tax legislation we expect to see in the upcoming session...more
Landmark changes in the federal income tax treatment of partnerships (including multi-member LLCs) became effective in 2018 for many more partnerships than first anticipated. As a result of the Bipartisan Budget Act of 2015,...more
In a case of first impression by an Alabama appellate court, the Alabama Court of Civil Appeals recently considered the appeal of the Alabama Department of Revenue (ADOR) of an adverse circuit court ruling involving whether...more
9/14/2018
/ Appeals ,
Business Taxes ,
Check the Box Rules ,
Department of Revenue ,
Income Taxes ,
Limited Liability Company (LLC) ,
Sales & Use Tax ,
SALT ,
Standing ,
Tax Assessment ,
Tax Tribunal
With the Dec. 22 enactment of the federal Tax Cuts and Jobs Act, many Alabamians and companies doing business in our state should see a reduction in their 2018 federal income tax bills but, somewhat surprisingly, an increase...more
1/29/2018
/ Alternative Minimum Tax ,
Business Taxes ,
Charitable Donations ,
Corporate Taxes ,
Income Taxes ,
New Legislation ,
SALT ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Rates ,
Tax Reform ,
Trump Administration
The “Tax Cuts and Jobs Act” has passed both chambers of Congress and is expected to be signed by President Trump soon. Details of the final agreement among House and Senate Republicans include rate cuts for “C” corporations,...more
12/21/2017
/ Affordable Care Act ,
Business Taxes ,
Corporate Taxes ,
Income Taxes ,
Individual Mandate ,
International Tax Issues ,
Legislative Agendas ,
Local Taxes ,
Mortgage Interest ,
Pending Legislation ,
R&D Tax Credits ,
State Taxes ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
Details of a final agreement among House and Senate Republicans emerged last week -- including rate cuts for “C” corporations, individuals and pass-through businesses. Here’s a summary of what the conferees have agreed to,...more
12/18/2017
/ Affordable Care Act ,
Alternative Minimum Tax ,
Business Taxes ,
Corporate Taxes ,
Income Taxes ,
Individual Mandate ,
International Tax Issues ,
Legislative Agendas ,
Local Taxes ,
Mortgage Interest ,
Pass-Through Entities ,
Proposed Legislation ,
R&D Tax Credits ,
State and Local Government ,
State Taxes ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
Although every LLC, limited partnership or other pass-through entity doing business in Alabama, and even those simply organized under Alabama law, are subject to an annual business privilege tax (BPT), certain entities can...more
10/19/2017
/ Appeals ,
Business Ownership ,
Business Privilege Tax ,
Business Taxes ,
Family Businesses ,
Family Limited Liability Companies ,
Family Limited Partnerships ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Tax Planning ,
Tax Returns ,
Wealth Management
The ADOR has proposed a number of amendments to its rule governing the filing of partnership tax returns, Form 65. The new rule, as proposed, inserts language conforming with Alabama’s recently enacted “factor presence nexus”...more
In preparation for the 2016 regular session, which begins on February 2, several of Alabama's key trade and business organizations recently announced their tax legislative agendas. As reflected in these agendas, the 2016...more
This SALT Alert summarizes many of the major legislative, judicial, and administrative developments affecting Alabama business taxpayers with respect to income, transactional, and property taxes. The Spring 2015 legislative...more
The Alabama Accountability Act of 2013 (the “Act”) provides state income tax credits to certain donors who make contributions to a state-approved scholarship granting organization (SGO) operating within Alabama. The Act was...more
The first Special Session of 2015 ended on Tuesday, August 11, without accomplishing the primary objective of passing a General Fund budget for the 2015-2016 fiscal year. The Governor’s “call” for the special session included...more
8/19/2015
/ Business Taxes ,
Legislative Agendas ,
Legislative Process ,
Reciprocity Rules ,
Repeal ,
Sales & Use Tax ,
Sales Tax ,
State Budgets ,
Sufficient Nexus ,
Tax Exemptions ,
Tax Reform
In International Business Machines Corp. v. Department of Treasury, the Michigan Supreme Court ruled that IBM was entitled to apportion its business income for purposes of the Michigan Business Tax (“MBT”) using the...more
On January 10, the Mississippi Supreme Court granted the Mississippi Department of Revenue’s (MDOR) petition for certiorari to review the Court of Appeals’ holding that the MDOR has the burden of proving that the use of an...more