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AL SB245
Bill
AI Summary
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Requires all entities exempt from Alabama state sales tax to pay the tax at time of purchase, including those listed in Title 40, Chapter 23 of the Code of Alabama 1975.
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Allows tax-exempt entities to file an annual electronic return with the Department of Revenue by January 20 of each year to receive a refund of only the state sales tax eligible for exemption.
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Annual returns must include the amount of gross sales deemed exempt from state Alabama sales tax, supported by documentation the Department of Revenue deems appropriate, for the most recently completed calendar year.
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First annual return deadline is January 20, 2017, covering the 2016 calendar year, with the system becoming operative in 2017.
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Requires the Department of Revenue to adopt implementation rules prior to January 1, 2016.
Legislative Description
Sales tax, entities exempt required to initially pay sales tax and later seek refund of exempted state tax amounts, Department of Revenue authorized to promulgate rules
Tax Exemptions
Last Action
Orr motion to Rerefer a Bill adopted Voice Vote
4/14/2015