STATE AND LOCAL TAXES 1219 Tax Lawyer, Vol. 53, No. 4 STATE AND LOCAL TAXES SUBMITTED BY THE COMMITTEE ON STATE AND LOCAL TAXES: BRUCE JOHNSON, COMMITTEE CHAIR; SYLVIA GASPAR, SUBCOMMITTEE CHAIR ON IMPORTANT DEVELOPMENTS* Legislation Income and Franchise Tax Alabama. The Alabama Business Privilege and Corporate Shares Tax Act of 1999, 1999 Ala. Acts 665, acts as a “bridge tax” to replace the $120 million loss in franchise tax revenue caused by the Supreme Court’s ruling in South Cent. Bell Tel...