40-16-1.2
Section 40-16-1.2 Additional items included in federal taxable income; items deducted from
federal taxable income. (a) The following items shall be added to federal taxable income for
purposes of computing net income under this chapter: (1) The tax due under this chapter that
is deducted in computing federal taxable income. (2) State and local taxes that are deducted
for purposes of calculating federal taxable income for which a credit is claimed under Section
40-16-8, to the extent the credit is utilized to reduce the tax owed under this chapter. (3)
Refunds of federal income taxes deducted in prior tax periods for purposes of computing the
tax due under this chapter. (4) Dividends received from a corporation in which the taxpayer
owns less than 20 percent of the stock, by vote and value, but only to the extent the dividends
are properly deducted in computing taxable income for federal income tax purposes. (5) State,
county, and municipal interest income from loans and securities that...
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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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40-18-311
Section 40-18-311 Income tax deduction; contributions to catastrophe savings account. (a) An
individual taxpayer is allowed a deduction against income earned for state income tax purposes
imposed pursuant to Section 40-18-5, for amounts contributed to a catastrophe savings account
in accordance with subsection (c) and all interest income earned by a catastrophe savings
account is exempt from the tax imposed pursuant to Section 40-18-5. (b) A catastrophe savings
account is not subject to attachment, levy, garnishment, or legal process in this state. (c)
The total amount that may be contributed to a catastrophe savings account must not exceed
any of the following: (1) In the case of an individual whose qualified deductible is less
than or equal to one thousand dollars ($1,000), two thousand dollars ($2,000). (2) In the
case of an individual whose qualified deductible is greater than one thousand dollars ($1,000),
the amount equal to the lesser of fifteen thousand dollars ($15,000) or...
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6-10-8
Section 6-10-8 Rights of beneficiaries and assignees under life insurance policies. If a policy
of insurance, whether heretofore or hereafter issued, is effected by any person on his or
her own life or on another life in favor of a person other than himself or herself or, except
in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned
or in any way made payable to any such person, the lawful beneficiary or assignee thereof,
other than the insured or the person so effecting such insurance, or his or her executors
or administrators, shall be entitled to its proceeds and avails against the creditors and
representatives of the insured and of the person effecting the same, whether or not the right
to change the beneficiary is reserved or permitted and whether or not the policy is made payable
to the person whose life is insured if the beneficiary or assignee shall predecease such person;
provided, that subject to the statute of limitations, the amount...
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9-14A-17
Section 9-14A-17 Use of bonds. All bonds, including refunding bonds, issued pursuant hereto,
and the income therefrom, including the interest income thereon, shall be free from all taxation
by the state or any county, municipality, or other political subdivision or instrumentality
of the state, excepting inheritance, estate, and gift taxes. Any bonds issued by the corporations
may be used by the holder thereof as security for any funds belonging to the state or to any
instrumentality or agency of the state in any instance where security for such deposits may
be required by law. Unless otherwise directed by the court having jurisdiction thereof, or
by the document that is the source of authority, a trustee, executor, administrator, guardian,
or one acting in any other fiduciary capacity may, in addition to any other investment powers
conferred by law and with the exercise of reasonable business prudence, invest trust and other
fiduciary funds in bonds of the corporations. (Act 2000-708,...
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9-14A-20
Section 9-14A-20 Bonds - Proceeds - Appropriations. The proceeds from the bonds issued by the
Alabama Public Historical Sites and Parks Improvement Corporation and interest income thereon
shall be appropriated as follows: (a) Three million dollars ($3,000,000) of the proceeds and
interest thereon shall be used for the acquisition, improvement, renovation, equipping and
maintenance of state-owned public historical sites and public historical parks not under the
jurisdiction of the Department of Conservation and Natural Resources. (b) Three million dollars
($3,000,000) for the acquisition, improvement, renovation, equipping, and maintenance of publicly-owned
historical sites, public parks, and public historical parks not under the jurisdiction of
the Department of Conservation and Natural Resources, provided that the corporation may provide
up to one third of this amount for the acquisition, improvement, renovation, equipping, and
maintenance of publicly-owned historical sites and...
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16-13-216
Section 16-13-216 Exemption from taxation. All notes issued pursuant to the provisions of this
article, all interest paid thereon and all income derived therefrom shall forever be exempt
from all state, county, municipal and other taxation under the laws of Alabama. (Acts 1979,
No. 79-823, p. 1538, §7.)...
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2-6-85
Section 2-6-85 Exemption of securities from taxation. All securities issued by the corporation
and any redemption premium and any interest thereon, the properties of the corporation and
any income realized from rents or leases obtained from operation of any market facility constructed
under the provision of this article, or any income realized from rents or leases from any
source or business under the control of the Agricultural Center Board, and all instruments
which may be filed for record pertaining to the pledge and lien authorized by this article
to be created, shall be exempt from all taxation in the state. (Acts 1984, No. 84-252, p.
405, §16.)...
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25-4-137
Section 25-4-137 Adjustments or refunds. (a) If, not later than four years after the date on
which any contributions, penalties, or interest became due, an employer who has paid such
contributions, penalties, or interest thereon shall make application for an adjustment thereof
in connection with subsequent contribution payments, or for a refund thereof because such
adjustment cannot be made, and the secretary shall determine that such contributions, penalties,
or interest, or any portion thereof, was erroneously collected, the secretary shall allow
such employer to make an adjustment thereof in connection with subsequent contribution liability,
or, if such adjustment cannot be made, the secretary may refund such contributions, interest,
and penalties from the clearing account. Any refund of interest and/or penalties which have
been transferred to the Special Employment Security Administration Fund shall be made from
the Special Employment Security Administration Fund, provided for in...
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27-22-64
Section 27-22-64 Accrual of interest. (a) If a lender fails to provide notice as required by
Section 27-22-61 or Section 27-22-62, interest begins to accrue on the date the lender received
the insurance proceeds. (b) If a lender fails to release insurance proceeds as required by
Section 27-22-62, interest begins to accrue on the date the lender receives sufficient evidence
of the insured's compliance with the requirements specified by the lender under Section 27-22-61
or Section 27-22-62 for release of the proceeds. (c) Interest stops accruing on the date the
lender complies with Section 27-22-61 or Section 27-22-62, as applicable. (Act 2019-460, §5.)...

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