Senator Slade Blackwell (R-Jefferson/Shelby County) has pre-filed two bills for the 2014 session: SB5 and SB6. These are similar in purpose, so I will address them together. SB5 declares that capital losses that can be carried back on state income tax forms for 2 years can now be carried back until the capital loss is exhausted. This would reduce the income tax burden for those who are struggling financially, and is an across-the-board tax cut that does not benefit anyone in specific. SB6 declares that dormant business entities are exempt from state business taxes.

This is another across-the-board tax cut that removes regulatory red tape and allows contractors, entrepeneurs, etc to temporarily pause business operations in bad economic times instead of having to go through the hassle of disbanding completely. These are great! Lower taxes for Alabamians struggling in a tough economy! This sounds like something any conservative would support.

What do you think about this bill? Do you agree with my analysis?



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