TAX NEWS - June 2010

State to bill BP for lost education tax

MONTGOMERY – Alabama will bill BP for losses in the education budget tax revenue due to the impact of the Gulf oil spill.

State Education Superintendent Joe Morton and Board of Education Vice President Randy McKinney said they expect to have the figures to send the first bill in 30 to 45 days.

About 25 percent of Alabama's tourism and travel tax revenue comes from the two counties. When Orange Beach Mayor Tony Kennart announced a 50 percent drop in tourism over Memorial Day weekend, Morton said concerns increased.