In 2021, the Alabama Legislature unanimously enacted an elective pass-through entity tax (PTE Tax) as a workaround to the so-called “SALT Cap,” which was part of the Tax Cuts and Jobs Act of 2017. The Alabama Electing...more
7/12/2023
/ Alabama ,
Department of Revenue ,
Income Taxes ,
IRS ,
Pass-Through Entities ,
PTEs ,
SALT ,
State and Local Government ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Returns
In a welcomed move by the business community, Gov. Kay Ivey on Friday morning issued a proclamation that would exempt certain CARES Act benefits from Alabama income tax and would extend the sunset (expiration) date of two of...more
As automotive suppliers begin work on their 2018 tax returns and implement plans for their capital expenditures in 2019, suppliers should look at a potential tax credit to help offset the costs of tooling: the Research and...more
2/20/2019
/ Automotive Industry ,
Capital Expenditures ,
Car Dealerships ,
Corporate Taxes ,
Economic Development ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Manufacturers ,
R&D ,
R&D Tax Credits
As you may know, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), enacting broad reforms to the Internal Revenue Code. How your state implements these reforms may have an impact on project recruitment and...more
10/3/2018
/ Economic Development ,
Federal Taxes ,
GILTI tax ,
Income Taxes ,
Infrastructure ,
Internal Revenue Code (IRC) ,
IRS ,
State and Local Government ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Incentives ,
Tax Reform ,
Trump Administration
On July 31, the Alabama Department of Revenue (ADOR or Department) released its long-awaited and quite comprehensive analysis of the impact of the Tax Cuts and Jobs Act of 2017 (otherwise known as “federal tax reform”) on...more
9/5/2018
/ Corporate Taxes ,
Department of Revenue ,
Excise Tax ,
Federal Taxes ,
Financial Institutions ,
Foreign Earned Income ,
GILTI tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Pass-Through Entities ,
Proposed Regulation ,
S-Corporation ,
State and Local Government ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Reform
Gov. Kay Ivey signed House Bill 384, into law last Wednesday, March 28, ending a debate that has lasted for almost a decade over the scope of the individual income tax credit for certain taxes paid to other states. ...more
Many predicted that the 2018 regular session of the Alabama Legislature would be less eventful than in years past since members of the House of Representatives and Senate are up for re-election this year, and most lawmakers...more
3/20/2018
/ Delinquency Status ,
Hiring & Firing ,
Income Taxes ,
Legislative Agendas ,
Local Taxes ,
Municipal Taxes ,
Proposed Legislation ,
SALT ,
State and Local Government ,
State Taxes ,
Tax Amnesty ,
Tax Credits ,
Tax Deductions ,
Veterans
The Alabama Legislature adjourned late Friday, May 19, with several tax bills crossing the finish line during the final week (and many on the last day). Both the Education Trust Fund and General Fund budgets were passed by...more
The Alabama Legislature adjourned sine die on May 4 bringing the 2016 Regular Session to an end. The 2017 Regular Session is scheduled to begin in February and there have been reports of a potential special session later in...more
5/17/2016
/ Apprenticeships ,
Captive Insurance Company ,
Contingency Fees ,
Corporate Taxes ,
Excise Tax ,
Hiring & Firing ,
Income Taxes ,
Insurance Industry ,
Legislative Agendas ,
Multistate Tax Commission (MTC) ,
Ports ,
Reporting Requirements ,
Shipping Cargo ,
Small Business ,
Tax Credits ,
Tax Rates
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 the major legislative, judicial, and administrative developments affecting Alabama business taxpayers with respect to income, transactional, and property taxes, as well as several updates on...more
Alabama has joined the District of Columbia, Florida, Georgia, Hawaii, Iowa, Kentucky, New Jersey, and North Carolina as members of the Arm’s Length Adjustment Services (ALAS) Advisory Group, a new project by the Multistate...more
The 2014 regular session of the Alabama legislature has been underway for over two months and is nearing its end. The legislature is off this week for Spring Break, then returns on Tuesday, April 1, for three final meeting...more
3/25/2014
/ Ad Valorem Tax ,
Audits ,
Business Privilege Tax ,
Education Budget ,
Income Taxes ,
Innocent Spouse Exception ,
Job Creation ,
Legislative Agendas ,
Limited Liability Company (LLC) ,
Net Operating Losses ,
Research and Development ,
Sales & Use Tax ,
State Budgets ,
Tax Assessment ,
Tax Credits
The Alabama Department of Revenue has just finalized its new local nexus regulation, Ala. Admin. Code Rule 810-6-5-.04.02, that will apply to transactions occurring on or after January 1, 2014, following its rule-making...more
The well-respected Public Affairs Research Council of Alabama (PARCA), headquartered at Samford University in Birmingham, has issued its 25th anniversary report, How Alabama’s Taxes Compare, which discusses the sources and...more
The Alabama Legislature adjourned near midnight on May 20, closing a session that saw lawmakers grant final passage of the two operating budgets and of amendments to the controversial Alabama Accountability Act. With respect...more