Act 2011-155 (HB 61) Small Business Health Care Deduction: effectively increases the state income tax deductions for both qualifying employees’ and employers’ (i.e., those with less than 25 employees) payment of health insurance premiums to 200 percent of the health insurance premiums
The Alabama Legislature adjourned sine die at midnight on June 9, with final passage of the two budgets and the remaining “Handshake with Alabama” bills, concluding what many are calling one of most productive legislative sessions in recent history.
Like most states, Alabama is facing difficult financial times, including a 9.7 percent statewide unemployment rate, causing Governor Robert Bentley and the Alabama Legislature to impose severe budget cuts.
On September 27, President Obama signed into law the "Small Business Jobs Act of 2010" (P.L. 111-240) (the “Small Business Jobs Act”), which includes a number of important tax incentives for businesses.