10A-10-1.21
Section 10A-10-1.21 Income tax. (a) A real estate investment trust shall be subject
to the tax imposed by Section 40-18-31, provided, that for purposes of Section
40-18-33, the "net income" of a real estate investment trust shall mean "real
estate investment trust taxable income" as defined in 26 U.S.C. Section 857 as
in effect from time to time. (b) Solely for purposes of conforming federal law with Alabama
law, the "net income" of a real estate investment trust determined pursuant to subsection
(a) shall be further adjusted as follows: (1) The deduction for intercorporate dividends received
under Section 40-18-35(a) (7), shall not be allowed. (2) The deduction for dividends
paid, as defined in 26 U.S.C. Section 561, shall be allowed but (i) shall be computed
without regard to that portion of the deduction which is attributable to the amount equal
to the net income from foreclosure property as defined in 26 U.S.C. Section 857, and
(ii) shall be limited by the provisions of Section...
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40-18-1
Section 40-18-1 Definitions. For the purpose of this chapter, the following terms shall
have the respective meanings ascribed by this section: (1) ADVANCED FOSSIL-BASED GENERATION.
The production of electricity from fossil-based generation with the use of technology or efficiency
improvements to control or reduce carbon emissions, including but not limited to, technologies
described in 26 U.S.C. § 48A(f), as such provision existed on December 31, 2007. (2) ALTERNATIVE
ENERGY RESOURCES. Coal gasification or liquefaction, nuclear, and advanced fossil-based generation.
(3) BIOMASS. Animals and plants, and the waste, by-products, or derivatives of either, including,
but not limited to, the materials described in 26 U.S.C. §§ 45(c)(2), 45(c)(3), 45K(c)(3),
or 48B(c)(4). (4) BUSINESS TRUST. Any entity which is a business trust for federal income
tax purposes. (5) CAPTIVE REIT. Any REIT whose shares or certificates of beneficial interest
are not regularly traded on an established...
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40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby
approved, adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article
I. Purposes. The purposes of this compact are to: 1. Facilitate proper determination of state
and local tax liability of multistate taxpayers, including the equitable apportionment of
tax bases and settlement of apportionment disputes. 2. Promote uniformity or compatibility
in significant components of tax systems. 3. Facilitate taxpayer convenience and compliance
in the filing of tax returns and in other phases of tax administration. 4. Avoid duplicative
taxation. Article II. Definitions. As used in this compact: 1. "State" means a state
of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory
or possession of the United States. 2. "Subdivision" means any governmental unit
or special district of a state. 3. "Taxpayer" means any corporation, partnership,
firm,...
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40-14A-24
Section 40-14A-24 Net worth in Alabama. (a) A taxpayer's net worth in Alabama shall
be determined by apportioning the taxpayer's net worth computed under Section 40-14A-23
in the same manner as prescribed for apportioning income during the determination period for
purposes of the income tax levied by Chapter 18, or the manner in which the income would be
apportioned if the taxpayer were subject to the income tax, or for the purposes of the financial
institution excise tax levied by Chapter 16; provided, however, that the net worth of insurers
subject to the insurance premium tax levied by Chapter 4A of Title 27 shall be apportioned
on the basis of the ratio of the insurer's Alabama premium income to its nationwide total
direct premiums as reflected on schedule T of the insurer's annual statement filed with the
Commissioner of Insurance for the then immediately preceding calendar year. (b) There shall
be deducted from the amount of net worth in Alabama as determined in accordance with...
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40-14A-34
Section 40-14A-34 (Repealed for taxable years beginning on or after January 1, 2002.)
Definition of taxable shares base. The taxable shares base shall be determined as follows:
(a) Multiply the corporation's initial taxable shares base by the apportionment factor used
to apportion the corporation's income to Alabama for purposes of the Alabama income tax in
accordance with Chapter 18 or that would be used if the corporation were subject to income
tax under Chapter 18. (b) From the amount determined in subsection (a), deduct the following:
(1) The book value of all devices, facilities, or structures, and all identifiable components
or materials for use therein, that are located in Alabama and are acquired or constructed
primarily for the control, reduction, or elimination of air, ground, or water pollution or
radiological hazards where such pollution or radiological hazards result from or would be
caused by activities of the taxpayer in Alabama; (2) The net amount invested by the...
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27-4A-3
Section 27-4A-3 Generally. (a) Subject to the exceptions and exemptions hereinafter
set forth, for the year beginning on January 1, 1995, and for each year thereafter, every
insurer shall pay to the commissioner a premium tax equal to the percentage, as set out in
this subsection, of the premiums received by the insurer for business done in this state,
whether the same was actually received by the insurer in this state or elsewhere: (1) PREMIUM
TAX ON LIFE INSURANCE PREMIUMS. a. Except as hereinafter provided, the rates of taxation on
life insurance premiums shall be those amounts set out in the following schedule: Year Foreign
Insurers Domestic Insurers 1995 2.9 1.3 1996 2.8 1.6 1997 2.7 1.8 1998 2.5 2.1 Every Year
Thereafter 2.3 2.3 b. Individual life insurance policies in a face amount of greater than
$5,000 and up to and including $25,000, excluding group life insurance policies, shall be
taxed at the rate of one percent per annum. c. Individual life insurance policies in a face...

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25-4-10
Section 25-4-10 Employment. (a) Subject to other provisions of this chapter, "employment"
means: (1) Any service performed prior to January 1, 1978, which was employment as defined
in this section prior to such date and, subject to the other provisions of this section,
services performed for remuneration after December 31, 1977, including service in interstate
commerce, by: a. Any officer of a corporation; or b. Any individual who, under the usual common
law rules applicable in determining the employer-employee relationship, has the status of
an employee; or c. Any individual other than an individual who is an employee under paragraphs
a. or b. of this subdivision (1) who performs services for remuneration for any person: 1.
As an agent-driver or commission-driver engaged in distributing meat products, bakery products,
beverages (other than milk) or laundry or dry cleaning services for a principal; 2. As a traveling
or city salesman engaged upon a full-time basis in the solicitation on...
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40-18-175
Section 40-18-175 Tax imposed when passive investment income of corporation having subchapter
C earnings and profits exceeds 25 percent of gross receipts. (a) If for the taxable year an
Alabama S corporation has accumulated earnings and profits at the close of the taxable year
derived from years during which the corporation was an Alabama C corporation, and gross receipts
more than 25 percent of which are passive investment income, then there is imposed a tax on
the income of the corporation for the taxable year. The tax shall be computed by multiplying
the excess net passive income by five percent. (b) (1) For purposes of this section:
a. Except as provided in paragraph b below, the term "excess net passive income"
means an amount which bears the same ratio to the net passive income for the taxable year
as (i) the amount by which the passive investment income for the taxable year exceeds 25 percent
of the gross receipts for the taxable year, bears to (ii) the passive investment income...

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10A-10-1.23
Section 10A-10-1.23 Treatment of corporate real estate investment trust. A domestic
or foreign corporation or any "qualified REIT subsidiary" of the domestic or foreign
corporation as defined in 26 U.S.C. Section 856(i), otherwise in compliance with the
provisions of Chapters 1 and 2, that elects to be treated as a real estate investment trust
under 26 U.S.C. Section 856, as amended from time to time, shall compute its Alabama
income tax in accordance with Section 10A-10-1.21. (Acts 1995, No. 95-628, p. 1317,
§23; §10-13-23; amended and renumbered by Act 2009-513, p. 967, §310.)...
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19-3A-401
Section 19-3A-401 Character of receipts. (a) For purposes of this section, "entity"
means a corporation, partnership, limited liability company, regulated investment company,
real estate investment trust, common trust fund, or any other organization in which a fiduciary
has an interest other than (1) a trust or decedent's estate to which Section 19-3A-402
applies, (2) a business or activity to which Section 19-3A-403 applies, or (3) an asset-backed
security to which Section 19-3A-415 applies. (b) Except as otherwise provided in this
section, a fiduciary shall allocate to income money received from an entity. (c) A
fiduciary shall allocate the following receipts from an entity to principal: (1) Property
other than money except in cases when the fiduciary has the choice to receive dividends or
similar payments either in cash or in the shares or similar ownership interests of the corporation
or other business entity, in which case, the fiduciary shall allocate the receipts to income;
(2)...
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