FOR IMMEDIATE RELEASE: Feb. 6, 2017
MONTGOMERY, Ala. (Feb. 6, 2017) – Business Council of Alabama President and CEO William J. Canary today commented on a proposal by the Alabama Senate Democratic Caucus to seek new taxes through a process known as Mandatory Unitary Combined Reporting.
“The Business Council of Alabama and Alabama’s economic development community has consistently and actively opposed Mandatory Unitary Combined Reporting as an arbitrary tax increase on business that will negatively impact Alabama business’s ability to provide quality, high-paying jobs for our citizens,” Canary said.
“It is simply a power grab that would greatly expand the bureaucracy and authority of the Alabama Department of Revenue. Do not buy the fiction that this is targeting out of state corporations. The truth is, combined reporting unfairly targets companies in Alabama that provide thousands of quality jobs.
“Alabama businesses and their employees create jobs, grow our economy, and produce revenue for state and local governments. In 2015 Alabama businesses contributed nearly 50 percent of all state and local taxes,” Canary said. “Our state government should instead be focused on making reforms and investments that actually return jobs and dollars to our state.”
The Business Council of Alabama is Alabama’s foremost voice for business. The BCA is a non-partisan, statewide business association representing the interests and concerns of nearly 1 million working Alabamians through its member companies and its partnership with the Chamber of Commerce Association of Alabama. The BCA is Alabama’s exclusive affiliate to the U.S. Chamber of Commerce and the National Association of Manufacturers.
Contact: Nancy Wall Hewston or Dana Beyerle (334) 834-6000