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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24-11-7
Section 24-11-7 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Deduction of Contributions, Exclusion of Earnings, and Limitations. (a) Except as otherwise provided in this chapter and subject to the limitations under this section, a first-time and second chance home buyer savings account holder shall be entitled to a state tax deduction, subject to the limitations of this section, not to exceed five thousand dollars ($5,000) for an account holder who files an individual tax return or ten thousand dollars ($10,000) for joint account holders who file a joint tax return, for contributions made by the account holder to a first-time and second chance home buyer savings account during the tax year in which the deduction is claimed. (b) Except as otherwise provided in this chapter and subject to the limitations under this section, earnings from the first-time and second chance home buyer...
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40-14A-31
Section 40-14A-31 (Repealed for taxable years beginning on or after January 1, 2002.) Levy of tax. (a) There is hereby levied an annual shares tax on all corporations incorporated or organized under the laws of Alabama, qualifying or registering to do business, or doing business in Alabama, unless otherwise exempted in this article; provided that all assets and other items of a disregarded entity shall be taken into account in determining the shares tax base of its owner and the disregarded entity shall not be subject to the tax levied by this article. The tax shall accrue as of January 1, 2000, and on January 1 of every taxable year thereafter, or in the case of a taxpayer incorporated or organized during the year, qualifying to do business during the year, or beginning to do business in Alabama for the first time during the year, as of the date the taxpayer incorporated, organized, qualifies, or begins to do business in Alabama, as the case may be. Except as provided in the following...
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40-18-393
Section 40-18-393 Rulemaking authority. The department may adopt rules consistent with this article as necessary to implement and administer this article. Rules may be adopted to include, but not limited to, a requirement that, upon request, taxpayers shall receive credits for up to, but no more than, the number of qualified new employees hired after July 25, 2016. In no case shall an employer claim a credit under this article for the same qualified employee more than once. Nor shall the number of qualified new employees, for which a credit is claimed, exceed the number of employees at the end of the tax year less the number of employees at the beginning of the tax year. (Act 2016-188, §4.)...
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40-18-414
Section 40-18-414 (Per Section 40-18-416, this section is repealed following the close of fiscal year 2020) Site preparation or public infrastructure work; reports. (a) Upon receipt of funding provided by the tax credit process in Section 40-18-413, the economic development organization shall proceed with the work that was specified in the application required by Section 40-18-411. (b)(1) As to a project described in Section 40-18-411(a)(1), the economic development organization shall report to the Department of Commerce upon the completion of the site preparation or public infrastructure work, upon the transfer of the site to an industry or business, and at other times as may be required or requested by the Department of Commerce. (2) As to a project described in Section 40-18-411(a)(2), the economic development organization shall report to the Department of Commerce upon the completion of the work and at such times as may be required or requested by the Department of Commerce. (c)...
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40-18-86
Section 40-18-86 Sale or transfer of real property and associated tangible property by nonresidents. (a) As used in this section, the term nonresident of Alabama shall include individuals, trusts, partnerships, corporations, and unincorporated organizations. Any seller or transferor who meets all of the following conditions and who provides the buyer or transferee with an affidavit signed under oath swearing or affirming that all of the following conditions are met will be deemed a resident for purposes of this section: (1) The seller or transferor has filed Alabama income tax returns or appropriate extensions have been received for the two income tax years immediately preceding the year of sale. (2) The seller or transferor is in business in Alabama and will continue substantially the same business in Alabama after the sale or the seller or transferor has real property remaining in the state at the time of closing of equal or greater value than the withholding tax liability as...
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40-14A-25
Section 40-14A-25 Filing of returns. (a) Every taxpayer shall file a privilege tax return, which shall include the public record disclosures required by Section 10-2B-16.22, with the department for every taxable year for which it is subject to the tax levied by this article. A disregarded entity that is owned by an individual, general partnership, or other entity not subject to the tax levied by this article shall file a return and pay the tax levied on it by this article. Except as provided in Section 40-14A-22(f) (4), the return required by this section is due no later than the corresponding federal income tax return as required to be filed as provided under federal law. In the case of a taxpayer's initial return, two and one half months after the taxpayer comes into existence, qualifies or registers to do business, or commences doing business in Alabama as the case may be. A disregarded entity that is required to file a return by this section shall file the return not later than the...
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40-16-3
Section 40-16-3 Returns. (a) Every financial institution, no later than the due date, including applicable extensions, for its corresponding federal income tax or federal information return, shall make and file with the Department of Revenue a return, signed under the penalties of perjury by its cashier, treasurer, or other authorized officer or employee, if a corporation, or by a person or authorized employee in charge of the conduct of the business to be taxed if an individual, firm, association, or other legal entity, in such form as may be prescribed by the Department of Revenue, giving such detailed information as the Department of Revenue may in its opinion require to determine the net income of the financial institution for the taxable year, by the net income of which the excise tax is to be measured. (b) Qualified corporate groups, as in this chapter defined, shall have the option to file one excise tax return on a consolidated basis or to file separate returns. Qualified...
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45-36-245
Section 45-36-245 Levy of tax; exemptions; payment; recordkeeping; disposition of funds. (a) In addition to all other taxes imposed by law, the Jackson County Commission is hereby authorized to levy a privilege or license tax in an amount not to exceed two percent against every person engaging in Jackson County in the business of renting or furnishing any room or rooms, lodging, or accommodations, to any transient in any hotel, motel, inn, tourist court, or any other place in which rooms, lodgings, or accommodations are regularly furnished to transients for a consideration. The tax shall be levied upon the charge for such rooms, lodgings, or accommodations, including the charge for use of rental of personal property and services furnished in such room or rooms. (b) There are exempted from the tax authorized by this section and from the computation of the amount of the tax levied or payable hereunder the following: Charges for property sold or services furnished which are required to be...
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40-18-15.4
Section 40-18-15.4 Deductions for certain retrofitting or upgrades to homes - Residence in Alabama Insurance Underwriting Association zone. (a) An individual taxpayer, whose legal residence is located in an Alabama Insurance Underwriting Association zone pursuant to Section 27-1-17, shall be allowed a deduction from taxable income, regardless of whether the taxpayer itemizes his or her income tax deductions, in calculating the income tax imposed pursuant to Section 40-18-5, for certain retrofit costs as described in this section. The deduction shall be allowed for the costs incurred to retrofit, as specified in Section 27-31D-2, a structure qualifying as the legal residence of a taxpayer to make the residence more resistant to loss due to a hurricane, tornado, or other catastrophic windstorm event. (b) In order to qualify for the state income tax deduction allowed pursuant to this section, the costs may not include ordinary repair or replacement of existing items, and shall be...
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