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Government Affairs
- Proposed Alabama Regulation Strikes Business Privilege Tax Deduction
- November 19, 2009—Bruce P. Ely and James E. Long, Jr.— Alabama’s business privilege tax (“BPT”) is imposed on every business entity doing business or registered to do business in Alabama, but provides for a deduction in computing the taxable base for the taxpayer’s investments in the equity of any other business entity that is also doing business in Alabama. Ala. Code § 40-14A-23. The deduction is designed to avoid the inherent double taxation that would result if the net worth of both the...