Alabama Tax Developments: 2012 Year In Review

Our final Alabama SALT Bulletin of 2012 summarizes the major legislative, judicial, and administrative developments affecting Alabama taxpayers with respect to income, transaction, and property taxes. The spring 2012 legislative session produced several noteworthy tax bills, many of which expand the scope and improve the operation of Alabama's existing statutory incentives. In addition, the courts decided several cases of importance during the year, including the application of Alabama's separate return limitation year to certain net operating losses incurred by members of an Alabama affiliated group. The final section of the bulletin provides a few unofficial predictions regarding legislative tax proposals that we expect to be introduced in the 2013 regular session. Members of our SALT Practice Group are or were involved in several of the cases and items of legislation discussed in this bulletin.