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Gov. Kay Ivey signs tax relief bill for small businesses

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MONTGOMERY, Ala. – Gov. Kay Ivey on Wednesday, April 6, signed House Bill 391 into law which will provide relief from the business privilege tax for Alabama small businesses.

The bill is sponsored by Rep. Steve Clouse (R) of Dale County and Sen. Tom Butler (R) of Madison.

“Alabama’s small businesses are the soul of our economy, and as long as I am your governor, I will continue to be a champion for these hardworking men and women,” said Gov. Ivey. “We are providing real relief to our small businesses.”

When fully implemented, the exemption is projected to save the state’s small businesses an estimated $23 million a year. Beginning in tax year 2023, this new law cuts the $100 minimum business privilege tax in half to $50 for small businesses, and it completely exempts small businesses from the minimum tax beginning in 2024.

“I commend Chairman Clouse and Senator Butler for their leadership and the Alabama Legislature for their work to support our small businesses,” Gov. Ivey expressed. “This will go a long way in providing support for some 230,000 small businesses for years to come.”

Currently, the Alabama Business Privilege Tax levies a minimum of $100 annually on corporations, limited liability entities, and other businesses in Alabama.

The tax remains due every registered year until the entity is legally dissolved, regardless of whether or not such entity is actively doing business in the state.


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