Starting Monday, the overtime pay of hourly workers in Alabama won’t be taxed by the state.
Alabama ranks 39th in the nation for its business tax climate, according to a new study released on Tuesday.
Time is running out. Many bills that sought to reduce the tax burden of Alabamians have officially died. But several tax relief bills remained alive as Wednesday’s committee meetings wrapped up.
In a few days, the Alabama Legislature will begin the first session of the new quadrennium. In addition to both chambers having to deal with the constitutionally mandated duty of passing budgets, a $2.6 billion surplus leftover from the prior legislative session will also have to be handled.
Alabamians in counties under a disaster declaration by the Federal Emergency Management Agency (FEMA) from January storms now have until October to pay their taxes.
State legislators have consistently insisted the state can't afford to permanently cut income taxes, much less eliminate them altogether. Lawmakers have also strayed away from reforming the state’s retirement system, even as it reported negative returns in 2022. One economist says they’re all wrong.