AL SB259

Increases the average monthly state sales tax liability threshold from $1,000 to $2,500 for taxpayers required to make estimated monthly payments to the Department of Revenue.

Taxpayers whose average monthly tax liability meets or exceeds $2,500 during the preceding calendar year must make estimated payments by the 20th day of the month in which the liability occurs.

First estimated payment amount is 66 2/3 percent of the taxpayer's actual tax liability for the same calendar month of the preceding year, or 66 2/3 percent of current month's estimated liability, whichever is less.

Outstanding credits or deficits from overpayment or underpayment are applied to increase or reduce that month's final tax liability, reported and paid by the 20th day of the following month.

Effective date is September 1, 2012, following passage and approval by the Governor.