Current as of January 01, 2019 | Updated by FindLaw Staff
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Eligible sellers may deduct and retain a discount equal to two percent of the simplified sellers use tax properly collected and then remitted to the department in a timely manner, provided that for tax periods beginning on or after January 1, 2019, the allowance for discount shall not apply to any taxes collected and then remitted which are in excess of four hundred thousand dollars ($400,000). The department is authorized to prescribe rules for administering the discount. No discount shall be allowed for any taxes which are not timely reported and remitted to the department pursuant to program procedures.
Cite this article: FindLaw.com - Alabama Code Title 40. Revenue and Taxation § 40-23-194 - last updated January 01, 2019 | https://codes.findlaw.com/al/title-40-revenue-and-taxation/al-code-sect-40-23-194.html
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