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40-18-176
Section 40-18-176 Nonresident shareholder composite returns. (a) The Department of Revenue
shall permit an Alabama S corporation to file composite returns and to make composite payments
on behalf of some or all of its nonresident shareholders if there are one or more nonresident
shareholders during any part of the taxable year. The Department of Revenue may permit composite
returns and payments to be made by an Alabama S corporation on behalf of its resident shareholders.
(b) For purposes of this section, a "composite return" means an informational return
similar in form to U.S. Treasury Department Schedule K-1 containing information concerning
one or more Alabama S corporation shareholder's respective shares of income, deductions and
losses passed through to them by virtue of their status as shareholders of an Alabama S corporation,
any credit to which the shareholder is entitled to claim by virtue of the Alabama S corporation's
payment of tax on his or her behalf pursuant to...
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2-6-117
Section 2-6-117 Disposition of refunding bond proceeds. (a) The proceeds of refunding bonds
shall be applied, together with any other moneys legally available, to the payment of the
expenses authorized by this article and to the payment of the principal of, premium, if any,
and interest due and to become due on any outstanding bonds to be refunded. The expenses authorized
by this article shall include, in addition to other expenses authorized by this article, all
expenses that the board of directors may deem necessary or advantageous in connection with
the sale and issuance of refunding bonds, including, without limitation, the expenses of selling
and issuing such refunding bonds, including any discount reflected in the purchase price paid
to the corporation, fees and disbursements of attorneys, accountants, fiscal agents, financial
advisors, and other consultants, fees and disbursements of trustees, escrow agents, registrars,
paying agents, transfer agents, depositories for...
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22-21-323
Section 22-21-323 Source of payment; security. (a) Securities issued by an authority shall
not be general obligations of the authority but shall be payable solely out of the revenues
from any health care facilities or other properties or assets (including, without limitation,
proceeds from such securities, investment income and insurance and condemnation proceeds)
owned or operated by it and the proceeds of any hospital tax appropriated, apportioned or
allocated to it or for its benefit, or any portion of either thereof, all as may be provided
or specified in the resolution of the board authorizing such securities or the indenture under
which issued. The principal of and interest (and premium, if any) on any securities issued
by the authority shall be secured by a pledge of the revenues or taxes (or both) out of which
the same are payable and may be secured by a trust indenture evidencing such pledge or by
a foreclosable mortgage, mortgage indenture or mortgage and trust indenture...
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40-14A-22
Section 40-14A-22 Levy and amount of tax. (a) Levy of tax. There is hereby levied an annual
privilege tax on every corporation, limited liability entity, and disregarded entity doing
business in Alabama, or organized, incorporated, qualified, or registered under the laws of
Alabama. The tax shall accrue as of January 1 of every taxable year, or in the case of a taxpayer
organized, incorporated, qualified, or registered during the year, or doing business in Alabama
for the first time, as of the date the taxpayer is organized, incorporated, registered, or
qualifies to do business, or begins to do business in Alabama, as the case may be. The taxpayer
shall be liable for the tax levied by this article for each year beginning before the taxpayer
has been dissolved or otherwise ceased to exist or has withdrawn or forfeited its qualification
to do business in Alabama. The amount of the tax due shall be determined by multiplying the
taxpayer's net worth in Alabama by the rate determined in...
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40-18-6
Section 40-18-6 Gain or loss - Basis of property; adjusted basis. (a) Basis (unadjusted) of
property. The basis of property shall be the cost of the property with the following exceptions:
(1) INVENTORY VALUE. If the property should have been included in the last inventory, the
basis shall be the last inventory value thereof. (2) GIFT or TRANSFER IN TRUST. If the property
was acquired by gift or by a transfer in trust the basis shall be determined in accordance
with 26 U.S.C. § 1015. If property was acquired by gift or transfer in trust on or after
December 31, 1932 and prior to March 15, 1985, the basis shall be the fair and reasonable
market value of the property at the time of the acquisition. (3) PROPERTY TRANSMITTED AT DEATH.
If the property was acquired from a decedent, the taxpayer's basis in the property shall be
determined in accordance with 26 U.S.C. § 1014. (4) PROPERTY ACQUIRED UPON LIKE-KIND EXCHANGE.
If the property was acquired upon an exchange described in subsection...
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11-101A-14
Section 11-101A-14 Securities payable out of revenues from projects, properties, etc., indenture
may contain agreements; liens. (a) Securities issued by an authority shall not be general
obligations of the authority but shall be payable solely out of the revenues from any project
or other properties or assets, including, without limitation, proceeds from the securities,
investment income and insurance, and condemnation proceeds, owned by it, all as may be provided
or specified in the resolution of the board authorizing the securities or the indenture under
which issued. The principal of and interest, and premium, if any, on any securities issued
by the authority shall be secured by a pledge of the revenues out of which the same are payable
and may be secured by an indenture conveying as security for the securities all or any part
of its property, which indenture may be subject to foreclosure. (b) Any indenture executed
on behalf of the authority and any resolution of the board...
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11-85-107
Section 11-85-107 Bonds - Authentication; redemption; sale; refunding; use of proceeds; security;
investment of funds. The bonds of the authority shall be signed by its president and attested
by its secretary and the seal of the authority shall be affixed thereto or a facsimile of
such seal shall be printed or otherwise reproduced thereon; provided, that a facsimile of
the signature of one, but not both, of said officers may be printed or otherwise reproduced
on any such bonds in lieu of being manually subscribed thereon and a facsimile of the signatures
of both of the officers may be printed or otherwise reproduced on such bonds in lieu of being
manually affixed thereof if the authority, in its proceedings with respect to issuance of
the bonds, provides for manual authentication of such bonds. The State Treasurer shall be
registrar, transfer agent, and paying agent for the bonds. The State Treasurer may designate
named individuals who are employees of the state and who are assigned to...
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16-16-9
Section 16-16-9 Execution, form, terms and conditions of bonds; sale; refunding bonds; bonds
to be limited obligations; security for payment; bonds as negotiable instruments; exemption
from taxation; bonds as security for deposits and for investment of fiduciary funds. (a) The
bonds of the authority shall be signed by its president and attested by its secretary, and
the seal of the authority shall be affixed thereto, and any interest coupons applicable to
such bonds shall be signed by the president; provided, that a facsimile of the signature of
one, but not both, of the said officers may be printed or otherwise reproduced on any such
bonds in lieu of his manually signing the same, a facsimile of the seal of the authority may
be printed or otherwise reproduced on any such bonds in lieu of being manually affixed thereto
and a facsimile of the president's signature may be printed or otherwise reproduced on any
such interest coupons in lieu of his manually signing the same. (b) Any bonds...
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16-16B-4
Section 16-16B-4 (Implementation Conditioned on Separate Legislative Enactment.) Execution
and other details of the bonds. The Bonds shall be signed by the president or vice-president
of the Authority, and the seal of the Authority affixed thereto (or a facsimile thereof imprinted
thereon) and attested by its secretary. All signatures of the president, vice-president, and
secretary may be facsimile signatures if the Authority, in its proceedings with respect to
issuance, provides for manual authentication (which may be in the form of a certificate as
to registration) of the Bonds by a trustee, registrar or paying agent or by named individuals
who are employees of the State and who are assigned to the Finance Department or State Treasurer's
Office of the State. All Bonds bearing signatures or facsimiles of the signatures of officers
of the Authority in office on the date of signing thereof shall be valid and binding notwithstanding
that before the delivery thereof and payment therefor,...
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16-60-91
Section 16-60-91 Execution, form, terms, sale, etc., of bonds; use of proceeds; security; bonds
legal investments. The bonds of the authority shall be signed by its president and attested
by its secretary and the seal of the authority shall be affixed thereto, and any interest
coupons applicable to such bonds shall be signed by the president; provided, that a facsimile
of the signature of one, but not both, of said officers may be printed or otherwise reproduced
on any such bonds in lieu of his signing the same, a facsimile of the seal of the authority
may be printed or otherwise reproduced on any such bonds in lieu of being manually affixed
thereto and a facsimile of the president's signature may be printed or otherwise reproduced
on any such interest coupons in lieu of his signing the same. Any bonds of the authority may
be executed and delivered by it at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall bear such rate or...
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