|
16-6D-9
Section 16-6D-9 Tax credit claims; administrative accountability; verification of requirements;
rules and procedures. (a)(1) An individual taxpayer who files a state income tax return and
is not claimed as a dependent of another taxpayer, a taxpayer subject to the corporate income
tax levied by Chapter 18 of Title 40, an Alabama S corporation as defined in Section
40-18-160, or a Subchapter K entity as defined in Section 40-18-1 may claim a credit
for a contribution made to a scholarship granting organization. If the credit is claimed by
an Alabama S corporation or Subchapter K entity, the credit shall pass through to and may
be claimed by any taxpayer eligible to claim a credit under this subdivision who is a shareholder,
partner, or member thereof, based on the taxpayer's pro rata or distributive share, respectively,
of the credit. (2) The tax credit may be claimed by an individual taxpayer or a married couple
filing jointly in an amount equal to 100 percent of the total...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-6D-9.htm - 24K - Match Info - Similar pages
10A-8A-7.03
Section 10A-8A-7.03 Liability of person dissociated as a partner to other persons. (a)
A person's dissociation as a partner does not of itself discharge that person's liability
for a partnership obligation incurred before dissociation. A person dissociated as a partner
is not liable for a partnership obligation incurred after dissociation, except as provided
in subsection (b). (b) A person that dissociates as a partner without resulting in a dissolution
and winding up of the partnership business or not for profit activity is liable as a partner
to the other party in a transaction entered into by the partnership, or a surviving partnership
or other surviving entity under Article 9 of this chapter or Article 8 of Chapter 1, within
one year after the partner's dissociation, only if the partner is liable for the obligation
under Section 10A-8A-3.06 and at the time of entering into the transaction the other
party: (1) reasonably believed that the person dissociated as a partner was then a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-7.03.htm - 2K - Match Info - Similar pages
10A-5A-6.02
Section 10A-5A-6.02 Event causing dissociation. A person is dissociated as a member
from a limited liability company when any of the following occurs: (a) the limited liability
company has notice of the person's express will to dissociate as a member, except that if
the person specifies a dissociation date later than the date the limited liability company
had notice, then the person is dissociated as a member on that later date; (b) an event stated
in the limited liability company agreement as causing the person's dissociation occurs; (c)
the person is expelled as a member pursuant to the limited liability company agreement; (d)
the person is expelled as a member by the unanimous consent of the other members if: (1) it
is unlawful to carry on the limited liability company's activities and affairs with the person
as a member; (2) there has been a transfer of all of the person's transferable interest other
than a transfer for security purposes; (3) the person is an organization and,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-6.02.htm - 4K - Match Info - Similar pages
10A-9A-7.02
Section 10A-9A-7.02 Transfer of partner's transferable interest. (a) A transfer, in
whole or in part, of a partner's transferable interest: (1) is permissible; (2) does not by
itself cause the partner's dissociation; (3) does not by itself cause a dissolution and winding
up of the limited partnership; and (4) subject to Section 10A-9A-7.04, does not entitle
the transferee to: (A) participate in the management or conduct of the limited partnership's
activities and affairs; or (B) except as otherwise provided in subsection (d), have access
to required information, records, or other information concerning the partnership's activities
and affairs. (b) A transferee has the right to receive, in accordance with the transfer, distributions
to which the transferor would otherwise be entitled. (c) A transferable interest may be evidenced
by a certificate of transferable interest issued by the limited partnership. A partnership
agreement may provide for the transfer of the transferable interest...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-7.02.htm - 2K - Match Info - Similar pages
10A-9A-6.07
Section 10A-9A-6.07 Liability to other persons of person dissociated as general partner.
(a) A person's dissociation as a general partner does not of itself discharge the person's
liability as a general partner for a debt, obligation, or liability of the limited partnership
incurred before dissociation. Except as otherwise provided in subsections (b) and (c), the
person is not liable for a limited partnership's debts, obligations, or liabilities incurred
after dissociation. (b) A person whose dissociation as a general partner resulted in a dissolution
and winding up of the limited partnership's activities and affairs is liable to the same extent
as a general partner under Section 10A-9A-4.04 on an obligation incurred by the limited
partnership under Section 10A-9A-8.04. (c) A person that has dissociated as a general
partner but whose dissociation did not result in a dissolution and winding up of the limited
partnership's activities and affairs is liable on a transaction entered into by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-6.07.htm - 2K - Match Info - Similar pages
10A-5A-11.06
Section 10A-5A-11.06 Event causing dissociation of a member associated with a series.
A person is dissociated as a member associated with a series when any of the following occurs:
(a) the series has notice of the person's express will to dissociate from the series, except
if the person specifies a dissociation date later than the date the series had notice, then
the person is dissociated from the series on that later date; (b) an event stated in the limited
liability company agreement as causing the person's dissociation from the series occurs; (c)
the person is dissociated as a member of the limited liability company pursuant to Section
10A-5A-6.02; (d) the person is expelled as a member associated with that series pursuant to
the limited liability company agreement; (e) the person is expelled as a member associated
with the series by the unanimous consent of the other members associated with that series
if: (1) it is unlawful to carry on the series' activities and affairs with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-11.06.htm - 4K - Match Info - Similar pages
10A-8A-5.03
Section 10A-8A-5.03 Rights of creditor of partner or transferee. (a) On application
to a court of competent jurisdiction by any judgment creditor of a partner or transferee,
the court may charge the transferable interest of the judgment debtor with payment of the
unsatisfied amount of the judgment with interest. To the extent so charged and after the partnership
has been served with the charging order, the judgment creditor has only the right to receive
any distribution or distributions to which the judgment debtor would otherwise be entitled
in respect of the transferable interest. (b) The partnership, after being served with a charging
order and its terms, shall be entitled to pay or deposit any distribution or distributions
to which the judgment debtor would otherwise be entitled in respect of the charged transferable
interest into the hands of the clerk of the court so issuing the charging order, and the payment
or deposit shall discharge the partnership and the judgment debtor...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-5.03.htm - 3K - Match Info - Similar pages
10A-9A-7.03
Section 10A-9A-7.03 Rights of creditor of partner or transferee. (a) On application
to a court of competent jurisdiction by any judgment creditor of a partner or transferee,
the court may charge the transferable interest of the judgment debtor with payment of the
unsatisfied amount of the judgment with interest. To the extent so charged and after the limited
partnership has been served with the charging order, the judgment creditor has only the right
to receive any distribution or distributions to which the judgment debtor would otherwise
be entitled in respect of the transferable interest. (b) The limited partnership, after being
served with a charging order and its terms, shall be entitled to pay or deposit any distribution
or distributions to which the judgment debtor would otherwise be entitled in respect of the
charged transferable interest into the hands of the clerk of the court so issuing the charging
order, and the payment or deposit shall discharge the limited partnership and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-7.03.htm - 3K - Match Info - Similar pages
10A-8A-5.04
Section 10A-8A-5.04 Power of personal representative of deceased partner. If a partner
dies, the deceased partner's personal representative or other legal representative may: (a)
for the period of time that the deceased partner's personal representative or other legal
representative holds the deceased partner's transferable interest: (1) exercise the rights
of a holder of transferable interests under this chapter; (2) exercise the rights of a transferee
under Section 10A-8A-5.02; and (3) for purposes of settling the estate, exercise the
rights of a current partner under Section 10A-8A-4.10; and (b) for the period of time
that the deceased partner's personal representative or other legal representative does not
hold the deceased partner's transferable interest, for purposes of settling the estate, exercise
the rights of a person dissociated as a partner under Section 10A-8A-4.10. (Act 2018-125,
§7.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-5.04.htm - 1K - Match Info - Similar pages
10A-9A-6.02
Section 10A-9A-6.02 Effect of dissociation as limited partner. (a) Upon a person's dissociation
as a limited partner: (1) subject to Section 10A-9A-7.04, the person does not have
further rights as a limited partner; (2) the person's implied contractual covenant of good
faith and fair dealing as a limited partner under Section 10A-9A-3.05(b) continues
only as to matters arising and events occurring before the dissociation; and (3) subject to
Section 10A-9A-7.04, and Article 10 of this chapter and Article 8 of Chapter 1, any
transferable interest owned by the person in the person's capacity as a limited partner immediately
before dissociation is owned by the person immediately after dissociation as a mere transferee.
(b) A person's dissociation as a limited partner does not of itself discharge the person from
any duty, debt, obligation, or liability to the limited partnership or the other partners
that the person incurred while a limited partner. (Act 2016-379, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-6.02.htm - 1K - Match Info - Similar pages
|