09/12/2023
ATTN!: Small Business owners in Alabama. If you own or are starting a small business then you know how tedious it can be to keep up with all the requirements. Alabama recently added an exemption for small business with less than $40k of Business Personal Property so that they do not have to file, BUT!!! It requires the counties to opt in. For anyone in Madison county AL, maybe we can as Madison County Tax Collector office... or email them. I found the below on the website:
"If you have any questions of your tax collector please email [email protected]"
When speaking with the folks at the state office it appears they have only had 1 county inquire about this so far.
To me it only makes sense to exempt those with under $40k in personal business property as the headache of filing doesn't really gain them much. The time and hours spent on it probably cost more than the income they receive from it quite honestly.
And it just makes trying to grow a small business more of a pain and tedious... Where as if our small businesses didn't have to worry about this, they could better focus on growing and then sending a bigger payment when they cross the $40k threshold.
