Alabama residents will pay a bit less at the grocery store after Gov. Kay Ivey (R) signed a bill Thursday to gradually reduce the 4% state tax on groceries.
The bill (HB 479) cuts the rate to 3% in September and then lowers it to 2% in 2024, contingent on the state reaching a growth target for total net income to the Education Trust Fund for the fiscal year ending September 2025.
The growth must be at least 3.5% higher than the previous fiscal year, according to the measure. If that isn’t achieved, the rate will drop ...
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