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AL SB254
Bill
Status
3/22/2011
Primary Sponsor
William Beasley
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AI Summary
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Increases the average monthly state sales tax liability threshold from $1,000 to $2,500 for requiring taxpayers to make estimated monthly payments to the Department of Revenue.
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Taxpayers meeting the $2,500 threshold must make estimated payments on or before the 20th day of the month in which the liability occurs, based on 66 2/3 percent of the prior year's same-month actual tax liability or current month's estimated liability, whichever is less.
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Amends Section 40-23-7, Code of Alabama 1975, regarding state sales tax collection procedures.
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Becomes effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Sales tax, estimated payments, average monthly tax liability threshold increased, Sec. 40-23-7 am'd.
Taxation
Last Action
Pending third reading on day 16 Favorable from Finance and Taxation Education with 1 amendment
6/1/2011