HB336 Summary

• Changes the business privilege tax due date for financial institutions from March 15 to April 15, effective for taxable years beginning after December 31, 2014.

• Aligns the business privilege tax return due date with the Alabama excise tax return due date (both April 15), eliminating the need for financial institutions to request filing extensions to obtain complete information.

• Applies to all members of financial institution groups, which must submit returns together with minimum tax amounts calculated on an aggregate basis.

• Becomes effective on the first day of the second month following passage and approval by the Governor.