Governor Ivey Signs Largest Tax Break Bill

Friday, March 16, 2018

 

Governor Kay Ivey signs a bill into law that will provide the largest tax break in more than a decade to middle-class Alabamians, sponsored by Senator Del Marsh. The new law raises the threshold for claiming the maximum exemption for state income taxes.

 

 For married couples filing jointly, heads of households, and single filers, the income threshold would be raised from $20,000 to $23,000. For married individuals filing separately, the threshold would be raised from $10,000 to $10,500. The overall impact of the bill is projected to be a $40-million savings for taxpayers over the next 10 years. 

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