On Thursday, Jan. 16, the House passed a small-business bill setting a $10,000 threshold for companies to have to file itemized statements when paying taxes on movable property.
Today, all businesses are required to itemize when paying taxes on things such as desks and equipment. House Bill 108, though, would lift the requirement if the property is work less than $10,000.
The bill passed 99-0 and is awaiting action in the Senate.
NFIB/Alabama State Director Rosemary Elebash said the change would make it easier for small businesses to handle their own tax forms.