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Last updated 3:28AM ET
March 9, 2021
Alabama
Alabama
Governor Signs Small Business Tax Break
(2008-06-10)
(APR - Alabama Public Radio ) - Gov. Bob Riley is signing legislation to provide a tax break to small businesses that provide health insurance to their employees.

Riley has scheduled a signing ceremony Tuesday (today) at the Capitol.

The governor pushed the tax break in the recent special session of the Legislature. The goal is to make health insurance more affordable so that more small businesses will offer it as an employee benefit.

The legislation will allow businesses with fewer than 25 employees to deduct from their state income taxes 150 percent of the amount they pay for health insurance for employees.

Small business employees who earn less than $50,000 annually will be able to deduct from their state income taxes 150 percent of what they pay toward their health insurance.

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