As the calendar turns to 2023, changes passed by the Alabama Legislature in 2022 to the business privilege tax also begin to take effect.
Act 2022-282, sponsored by Rep. Steve Clouse (R-Ozark), lowers the minimum business privilege tax from $100 to $50 for the taxable year beginning in 2023. Under prior law, the minimum business privilege tax due for certain corporations, business trusts, limited liability entities, and disregarded entities was not less than $100.
More importantly, the legislation eliminates the minimum business privilege tax after December 31, 2023.
To read the legislation, click here.
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