October 2023 Group Watch: Gov. Ivey Announces Major Business Tax Reform
Governor Kay Ivey recently announced the implementation of a major tax reform initiative that will lessen the burdens on many Alabama small businesses. Effective October 1, 2023, more than 3,000 Alabama businesses are no longer required to pay monthly estimated sales taxes to the state Department of Revenue. Responding to the governor’s call, the legislature created the new law during the 2023 session, and it removes the monthly estimated sales tax requirement for businesses with less than $20,000 in average monthly sales tax liability.
