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HB 483 receives favorable committee report after presentation on optional digital business entity
Summary
A legislative committee gave HB 483 a favorable report after a presentation saying the bill would create an optional business entity to attract digital companies; a question clarified the $10 million figure cited was an annual corporate tax estimate.
A legislative committee gave HB 483 a favorable report after a presentation that described the measure as creating an optional business entity intended to attract digital companies to Alabama.
The presenter told the committee the bill was "in line with the current bipartisan federal policy bringing offshore companies back to the states," citing recent federal measures and saying, "This bill creates a new optional business entity structure for the digital age." The presenter said that, in an example drawn from another state, a company could have…
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