Bills supported by Gov. Kay Ivey and approved by state lawmakers in the just-ended legislative session will provide tax relief for Alabama families, seniors and businesses.
Combined, the legislation is expected to save Alabama taxpayers more than $160 million, according to a statement from state Senate President Pro Tem Greg Reed.
“I am proud to say that the Alabama Senate stepped up to the plate in a major way in recent weeks to answer that urgent call, passing $160 million worth of annual tax cuts for hardworking Alabamians, small businesses and retirees across our state,” Reed said.
The tax relief includes:
Lawmakers also approved other tax revisions benefitting small businesses and farmers. The legislation was the result of recommendations from the Alabama Small Business Commission.
“Small business owners face a unique set of obstacles just to stay in business, and our commission is dedicated to removing those challenges so they can grow, thrive, expand and provide more jobs and opportunities for Alabamians,” said Rep. Danny Garrett of Trussville, chairman of the commission.
“Alabama recognizes better than any state in the nation that providing tax relief, when possible, is the right thing to do,” Ivey said after signing several of the measures. “I am committed to making sure Alabama is the best place to live, work and raise a family. I commend the Alabama Legislature for their hard work in providing tax relief to Alabamians.”