House bills mean change for tax laws, pistol permit prices
Published 5:50 pm Friday, April 23, 2010
Alabama tax law now conforms to federal law regarding paying quarterly estimates after HB504 was enacted this legislative session.
House bill 564 also passed, which increased the price of pistol permits in Butler County form $15 to $20. The additional $5 will go to the Sheriff’s fund and will be used to purchase a higher quality permit printer.
Rep. Charles Newton, who sponsored both bills, explained how HB504 would affect Alabamians.
“Each year people pay income tax and if required, they pay quarterly estimate income tax payments,” Newton said.
Citizens are required to pay quarterly estimates only if they owe over a certain amount. Under the old Alabama law, Newton said, the threshold was set at $100. This meant people who owe more than $100 of taxes on unearned income would be required to make payments the following year.
“The new bill will raise the threshold amount for individuals from $100 of unearned income to $500,” Newton said. “Business threshold decreased from $5000 to $500.”
Newton said the Alabama Revenue Department estimated it would save about $100,000 because of a decrease in the amount of forms they will have to process.
While the revenue department expects to save money, pistol permit holders will find themselves paying $5 more per permit. Sheriff Kenny Harden said it would help give Butler County’s permits a new look.
“The equipment to make the new permits will cost around $7000,” Harden said.
He expects that it will take until the first of next year to raise the funds. Other counties around Butler, Harden said cost about $20 to $25 but look more like credit cards.
“I have had a lot of people say they’d rather pay a little more for a better looking permit,” Harden said.
In addition to looking better, Harden said, the new pistol permits would be more durable.