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HB353
205816-1:n:02/27/2020:LSA-KF/jmb HB353 By Representative Garrett RFD Ways and Means Education
Rd 1 27-FEB-20 SYNOPSIS: Under existing law, financial institutions are taxed at a rate of
six and one-half percent of net income and allowed to deduct federal income taxes paid or
accrued during the taxpayers tax year. Under existing law, corporate income taxpayers are
taxed at a rate equal to six and one-half percent of taxable income and allowed to deduct
federal income taxes paid or accrued within the year. Under existing law, the apportionment
factor for most corporate income taxpayers is calculated using a three-factor apportionment
formula, with the sales factor double-weighted. The 2017 federal Tax Cuts and Jobs Act eliminated
or limited business deductions and created new classes of income for corporate income taxpayers.
Since Alabama is a rolling conformity state, Alabama automatically conforms to many of the
federal tax changes without new legislation. This bill would decrease the...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB353.htm - 73K - Match Info - Similar pages
SB250
205816-1:n:02/27/2020:LSA-KF/jmb SB250 By Senators Roberts and Marsh RFD Finance and Taxation
Education Rd 1 27-FEB-20 SYNOPSIS: Under existing law, financial institutions are taxed at
a rate of six and one-half percent of net income and allowed to deduct federal income taxes
paid or accrued during the taxpayers tax year. Under existing law, corporate income taxpayers
are taxed at a rate equal to six and one-half percent of taxable income and allowed to deduct
federal income taxes paid or accrued within the year. Under existing law, the apportionment
factor for most corporate income taxpayers is calculated using a three-factor apportionment
formula, with the sales factor double-weighted. The 2017 federal Tax Cuts and Jobs Act eliminated
or limited business deductions and created new classes of income for corporate income taxpayers.
Since Alabama is a rolling conformity state, Alabama automatically conforms to many of the
federal tax changes without new legislation. This bill would...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/SB250.htm - 73K - Match Info - Similar pages
HB4
200313-1:n:04/30/2019:LFO-KF**/jmb HB4 By Representative Holmes RFD Fiscal Responsibility Rd
1 04-FEB-20 SYNOPSIS: This bill would repeal various state taxes and levy instead a comprehensive
consumption tax. A BILL TO BE ENTITLED AN ACT To repeal the following provisions of the Code
of Alabama 1975: Chapter 18 of Title 40, Sections 40-27-1.1, and 40-31-1-through 40-31-4,
regarding the income tax; Chapter 9F of Title 40, regarding the tax credits for rehabilitation
of historic structures; Chapter 16 of Title 40, regarding the financial institutions excise
tax; Chapter 14 of Title 40, regarding the corporation tax; Sections 40-14A-1 through 40-14A-2,
40-14A-21 through 40-14A-29, and 40-14A-41 through 40-14A-43, regarding the business privilege
tax; Chapter 23 of Title 40, regarding the sales and use and contractors gross receipts
taxes; Sections 40-15-1 through 40-15-19, regarding estate and gift tax; Sections 40-15A-1
through 40-15A-14, regarding the generation-skipping transfer tax;...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB4.htm - 111K - Match Info - Similar pages
HB47
197055-1:n:02/14/2019:KMS/tgw LSA2019-240 HB47 By Representative McCampbell RFD Education Policy
Rd 1 04-FEB-20 SYNOPSIS: Under existing law, a public K-12 school or school district that
is determined to have poor performance is labeled by the State Superintendent of Education
as failing to make adequate progress or as a failing school under the school grading system.
Also under existing law, the Alabama Accountability Act of 2013, provides financial assistance
through an income tax credit to a parent who transfers a student from a failing public school
to a nonfailing public school or nonpublic school of the parent's choice. This bill would
change the designation of a failing school to a challenged school and the designation of a
nonfailing school to a nonchallenged school for the purposes of school grading and the Alabama
Accountability Act of 2013, and would require the State Board of Education to reflect those
changes in terminology when amending or adopting rules. A BILL TO BE...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB47.htm - 59K - Match Info - Similar pages
HB202
Rep(s). By Representative Poole HB202 ENROLLED, An Act, Relating to the Alabama Business and
Nonprofit Entities Code; to amend Sections 10A-1-1.02, 10A-1-1.03, and 10A-1-1.08, as amended
by Act 2019-94, 2019 Regular Session, Code of Alabama 1975; to add Sections 10A-1-3.07 and
10A-1-3.08 to the Code of Alabama 1975; to amend Sections 10A-1-3.32, as amended by Act 2019-94,
2019 Regular Session, 10A-1-3.33, as amended by Act 2019-304, 2019 Regular Session, 10A-1-3.42,
10A-1-4.01, and 10A-1-4.02, as amended by Act 2019-94, 2019 Regular Session, and 10A-1-4.05,
Code of Alabama 1975; to add Section 10A-1-4.07 to the Code of Alabama 1975; to amend Sections
10A-1-4.11, as amended by Act 2019-94, 2019 Regular Session, 10A-1-4.12, 10A-1-4.21 and 10A-1-4.31,
as amended by Act 2019-94, 2019 Regular Session, and Sections 10A-1-5.04 and 10A-1-5.11, Code
of Alabama 1975; to add Section 10A-1-5.17 to the Code of Alabama 1975; to amend Sections
10A-1-6.02, 10A-1-8.01, and 10A-1-8.02, as amended by Act...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB202.htm - 399K - Match Info - Similar pages
SB206
204031-1:n:02/07/2020:KMS/tgw LSA2020-130 SB206 By Senator Givhan RFD Judiciary Rd 1 18-FEB-20
SYNOPSIS: This bill would make changes to the Alabama Business and Nonprofit Entities Code
to allow business corporations to elect to become benefit corporations; allow electronic filing
of all entity filings to increase the speed at which businesses may be formed and by which
transactions may be accomplished; update definitions to include terms applicable to the allowance
of electronic and digital transactions and transmissions of filings, notices, and data; establish
certain basic standards for all filing instruments to allow for easier electronic transmission;
provide a mechanism to allow the Secretary of State to reject certain filing instruments which
are not accompanied by full payment, to assist in the electronic filing process; clarify the
requirements of certificates of existence for entities; remove certain outdated definitions
and matters to streamline the code; and to clarify that...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/SB206.htm - 400K - Match Info - Similar pages
SB165
SB165 ENGROSSED By Senator Melson A BILL TO BE ENTITLED AN ACT Relating to the medical use
of cannabis; to add a new Chapter 2A to Title 20, Code of Alabama 1975; to amend Section 13A-7-2,
Code of Alabama 1975; to create the Compassion Act; to provide civil and criminal protections
to certain patients with a qualifying medical condition who have a valid medical cannabis
card for the medical use of cannabis; to establish the Alabama Medical Cannabis Commission
and provide for its membership and duties; to provide for certification of patients to authorize
use of medical cannabis; to license and regulate the cultivation, processing, transporting,
testing, and dispensing of medical cannabis; to prohibit certain types of medical cannabis
products; to provide for patient registry and seed-to-sale tracking; to impose taxes; to provide
certain legal protections for users of medical cannabis; to provide certain legal protections
for employers; to provide further for workers' compensation...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/SB165.htm - 112K - Match Info - Similar pages
HB352
205641-1:n:02/27/2020:LSA-JS/jmb HB352 By Representative Garrett RFD Ways and Means Education
Rd 1 27-FEB-20 SYNOPSIS: Under existing law, corporate taxpayers are allowed to deduct federal
income taxes paid or accrued within the year. Corporate taxpayer income is taxed at a rate
of six and one-half percent. This bill would propose an amendment to Amendment 212 of the
Constitution of Alabama of 1901, as amended by Amendment 662 of the Constitution of Alabama
of 1901, now appearing as Section 211.03 of the Official Recompilation of the Constitution
of Alabama of 1901, as amended, to provide that the income tax rate for corporations shall
be four and three-quarters percent unless reduced by the Legislature. This amendment would
also eliminate the federal income tax deduction for corporate taxpayers. A BILL TO BE ENTITLED
AN ACT Proposing an amendment to the Constitution of Alabama of 1901, as amended; to amend
Amendment 212 to the Constitution of Alabama of 1901, as amended by Amendment...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB352.htm - 5K - Match Info - Similar pages
SB249
205641-1:n:02/27/2020:LSA-JS/jmb SB249 By Senators Roberts and Marsh RFD Governmental Affairs
Rd 1 27-FEB-20 SYNOPSIS: Under existing law, corporate taxpayers are allowed to deduct federal
income taxes paid or accrued within the year. Corporate taxpayer income is taxed at a rate
of six and one-half percent. This bill would propose an amendment to Amendment 212 of the
Constitution of Alabama of 1901, as amended by Amendment 662 of the Constitution of Alabama
of 1901, now appearing as Section 211.03 of the Official Recompilation of the Constitution
of Alabama of 1901, as amended, to provide that the income tax rate for corporations shall
be four and three-quarters percent unless reduced by the Legislature. This amendment would
also eliminate the federal income tax deduction for corporate taxpayers. A BILL TO BE ENTITLED
AN ACT Proposing an amendment to the Constitution of Alabama of 1901, as amended; to amend
Amendment 212 to the Constitution of Alabama of 1901, as amended by Amendment...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/SB249.htm - 5K - Match Info - Similar pages
HB122
203857-1:n:01/21/2020:PMG*/tj LSA2019-3160 HB122 By Representative Sorrell RFD Ways and Means
Education Rd 1 04-FEB-20 SYNOPSIS: This bill would exclude from gross income of individuals
the net capital gain derived from the exchange of precious metal bullion. This bill would
also include as a deduction of individuals from gross income the net capital loss derived
from the exchange of precious metal bullion. A BILL TO BE ENTITLED AN ACT Relating to state
income tax as for individuals; to amend Sections 40-18-14 and 40-18-15, Code of Alabama 1975;
to exclude net capital gains and losses derived from the exchange of precious metal bullion
from state income taxes. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. This act
shall be known and may be cited as the Sound Money Tax Neutrality Act.Section 2. Sections
40-18-14 and 40-18-15, Code of Alabama 1975, are amended to read as follows: §40-18-14. "The
term "gross income" as used herein: "(1) Includes gains, profits and income...
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