By TODD STACY, Alabama Daily News
MONTGOMERY, Ala. – Many middle-to-low income Alabamians will pay less in taxes next year now that legislation allowing more families to claim exemptions has become law.
Gov. Kay Ivey on Thursday signed Senate Bill 76, sponsored by Senate President Pro Tempore Del Marsh, which raises the maximum income threshold for tax exemptions. For single filers, heads of household and married couples filing jointly, the income threshold will go from $20,000 to $23,000. For married individuals filing separately, the threshold would be raised from $10,000 to $10,500.
An estimated 182,266 Alabama tax filers will see a decrease under the bill, Marsh’s office said.
“I am proud to sign SB76 giving low-income and middle-income Alabamians much needed relief on their taxes. The economy in our state is booming and this tax break reflects that. Every dollar spent by the government belongs to the people and I am pleased to be able to give some of that money back,” Governor Ivey said. “I commend Senator Del Marsh for sponsoring the bill and leading the way in getting it passed through the legislature. I also congratulate Representative Reed Ingram for his great work in the House.”
Marsh, who sponsored the bill and shepherded it through the Legislature, said the tax break will help more Alabamians benefit from a booming economy.
“This is the first tax cut in Alabama since 2006 and I am proud that through smart, conservative management, the economy is doing well and the money for this middle-class tax break is available,” he said. “I want to thank Governor Ivey for her signature on this important piece of legislation and to Representative Reed Ingram for his work in the House.”