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Governor Ivey Announces Major Tax Reform to Benefit Small Businesses

Press Release

By: Kay Ivey
By: Kay Ivey
Date: Sept. 26, 2023
Location: Montgomery, AL
Issues: Business, Consumers, and Employees

"Alabama's economy is anchored in the stability and prosperity of many thousands of hard-working small businesses. In my 2023 State of the State Address, I called on the Legislature to help lower the financial load shouldered by most small businesses, making it easier for them to thrive in a challenging national economy.

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I am pleased to report that this small business tax reform law, which will take effect October 1, is expected to positively affect over 3,000 Alabama small businesses. By freeing small businesses with less than $500,000 in monthly sales from having to pay estimated monthly sales taxes and allowing them to pay the taxes after the point of sale, they will experience greater cash flow and accordingly more flexibility to operate."


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