In 2021, the Alabama Legislature unanimously enacted an elective pass-through entity tax (PTE Tax) as a workaround to the so-called “SALT Cap,” which was part of the Tax Cuts and Jobs Act of 2017. The Alabama Electing...more
7/12/2023
/ Alabama ,
Department of Revenue ,
Income Taxes ,
IRS ,
Pass-Through Entities ,
PTEs ,
SALT ,
State and Local Government ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Returns
On January 28, HB 170 and its Senate counterpart, SB 98, were prefiled with the Alabama Legislature and designated as three separate acts: (i) The Alabama Taxpayer Stimulus Freedom Act of 2021, (ii) The Alabama Business Tax...more
2/2/2021
/ CARES Act ,
Consolidated Appropriations Act (CAA) ,
Economic Stimulus ,
Internal Revenue Code (IRC) ,
IRS ,
Pass-Through Entities ,
Relief Measures ,
SBA ,
State and Local Government ,
State Legislatures ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Reform
In a welcomed move by the business community, Gov. Kay Ivey on Friday morning issued a proclamation that would exempt certain CARES Act benefits from Alabama income tax and would extend the sunset (expiration) date of two of...more
As automotive suppliers begin work on their 2018 tax returns and implement plans for their capital expenditures in 2019, suppliers should look at a potential tax credit to help offset the costs of tooling: the Research and...more
2/20/2019
/ Automotive Industry ,
Capital Expenditures ,
Car Dealerships ,
Corporate Taxes ,
Economic Development ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Manufacturers ,
R&D ,
R&D Tax Credits
As you may know, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), enacting broad reforms to the Internal Revenue Code. How your state implements these reforms may have an impact on project recruitment and...more
10/3/2018
/ Economic Development ,
Federal Taxes ,
GILTI tax ,
Income Taxes ,
Infrastructure ,
Internal Revenue Code (IRC) ,
IRS ,
State and Local Government ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Incentives ,
Tax Reform ,
Trump Administration
On July 31, the Alabama Department of Revenue (ADOR or Department) released its long-awaited and quite comprehensive analysis of the impact of the Tax Cuts and Jobs Act of 2017 (otherwise known as “federal tax reform”) on...more
9/5/2018
/ Corporate Taxes ,
Department of Revenue ,
Excise Tax ,
Federal Taxes ,
Financial Institutions ,
Foreign Earned Income ,
GILTI tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Pass-Through Entities ,
Proposed Regulation ,
S-Corporation ,
State and Local Government ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Reform