Governor Riley To Sign Tax Break Bill

Font Size By The Associated Press
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M50o93H7pQ09L8X1t49cHY01Z5j4TT91fGfr Governor Riley To Sign Tax Break Bill
Published: Tue, June 10, 2008 - 5:14 am
Last Updated: Tuesday, June 10, 2008 - 6:11 am
MONTGOMERY, Ala. (AP) - Gov. Bob Riley is signing legislation to
provide a tax break to small businesses that provide health
insurance to their employees.
Riley has scheduled a signing ceremony Tuesday (today) at the
Capitol.
The governor pushed the tax break in the recent special session
of the Legislature. The goal is to make health insurance more
affordable so that more small businesses will offer it as an
employee benefit.
The legislation will allow businesses with fewer than 25
employees to deduct from their state income taxes 150 percent of
the amount they pay for health insurance for employees.
Small business employees who earn less than $50,000 annually
will be able to deduct from their state income taxes 150 percent of
what they pay toward their health insurance.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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