AL HB276

Adds Section 40-14A-44 to Alabama Code to exempt dormant entities from business privilege tax, even if they fail to dissolve or withdraw from Secretary of State.

Defines a dormant entity as one that has not owned property, produced income, or carried out any business activity for two consecutive years prior to the taxable year.

Requires the Department of Revenue to notify the Secretary of State when a taxpayer is identified as non-operating so records can be updated to reflect this exempt status.

Establishes an amnesty program running from October 1, 2013 through December 31, 2013 for taxpayers subject to business privilege tax who failed to file required returns and remit tax liability, waiving all penalties and reducing the look-back period to two tax years.

Reduces amnesty program liability to $150 if the taxpayer can document its dissolution.