HB258 Summary

• Amends Section 11-51-90.1 of the Code of Alabama 1975 to modify the definition of "gross receipts" for municipal business license tax purposes.

• Allows businesses paying municipal business licenses based on gross receipts to deduct any excise taxes imposed by federal, state, and local governments from their gross receipts calculation.

• Clarifies that gross receipts exclude excise taxes whether called an excise tax or license fee, in addition to existing exclusions for consumer taxes collected on behalf of taxing jurisdictions.

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