State Income Tax Made Simple

Wednesday, April 22, 2015

 

Senator Bill Hightower of Mobile proposed legislation to replace the state’s adjustable income tax code with a Simplified Flat Tax. Hightower unveiled a revenue-neutral change to state tax policy that will lower the individual and corporate tax rates significantly, today. The result will be simplified tax returns that can be completed on a postcard and save Alabamians the cost of tax preparation along with reducing the headache of complicated calculations.  It will reduce the Alabama personal income tax rate from 5-percent to 2.75-percent, and the Alabama business income tax rate from 6-percent to 4.59-percent.  If the bill passes, Alabama voters will be given final say to adopt the changes on the 2016 ballot.

 

 

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