Montgomery, AL – Gov. Robert Bentley has signed legislation increasing the state income tax deduction that small businesses get for supplying health insurance for their employees.
Bentley said Thursday the savings provided by the legislation will encourage small businesses to hire more workers and help lower Alabama's 9.2 percent unemployment rate.
The legislation increases the state income tax deduction for health insurance expenses from 150 percent to 200 percent for businesses employing less than 25 people.
The president of a financial advising business in Hoover, Greg Powell of fi-plan partners, says the savings will help him add two employees to his 10-employee firm.
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