41-9-219.2
Section 41-9-219.2 Limitation on certifications. Once the department has certified a cumulative
amount of qualified equity investments that can result in the utilization of twenty million
dollars ($20,000,000) of tax credits in any tax year, the department may not certify any more
qualified equity investments under Section 41-9-219.3. This limitation shall be based on the
scheduled utilization of tax credits without regard to the potential for taxpayers to carry
forward tax credits to later tax years. (Act 2012-483, p. 1340, §6.)...
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45-18-242.03
Section 45-18-242.03 Monthly reports of cash and credit businesses. Any person, corporation,
partnership, firm, limited liability company, association, proprietorship, or other entity
taxable under this part having a cash and credit business may report such cash business, and
the taxpayer shall thereafter include in each monthly report all credit collections made during
the preceding month and shall pay the taxes due thereon at the time of filing such report,
but in no event shall the gross proceeds of such credit business be included in the measure
of tax to be paid until collections of such credit business shall have been made. (Act 98-657,
p. 1440, §4.)...
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45-40-244.03
Section 45-40-244.03 Cash and credit business. Any person, corporation, partnership, firm,
limited liability company, association, proprietorship, or other entity taxable under this
part having a cash and credit business may report such cash business and the taxpayer shall
thereafter include in each monthly report all credit collections made during the preceding
month and shall pay the taxes due thereon at the time of filing such report, but in no event
shall the gross proceeds of such credit business be included in the measure of tax to be paid
until collections of such credit business shall have been made. (Act 2001-561, p. 1130, §4.)...

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40-18-135
Section 40-18-135 Definitions. The following definitions apply to this article: (1) APPROVED
BASIC SKILLS EDUCATION PROGRAM. A basic skills education program that has received written
approval from the Alabama Department of Education pursuant to this article. (2) BASIC SKILLS
EDUCATION PROGRAM. An approved employer provided or employer sponsored education program that
enhances basic skills of employees up to and including the twelfth grade functional level.
(3) COSTS OF EDUCATION. Direct instructional expenses incurred for or relating to instructors,
materials, or equipment used in the qualifying program, or for supplies, textbooks, or salaries,
including compensation paid to employees while participating in an approved basic skills education
program. (4) EMPLOYEE. An individual resident of Alabama who is employed for at least 24 hours
per week by the employer seeking the tax credit and who has been continuously employed for
at least 16 weeks. (5) EMPLOYER. An individual or corporate...
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40-18-15.2
Section 40-18-15.2 Net operating loss. Individuals may calculate a net operating loss from
a trade or business and apply the net operating loss against prior taxable income or future
taxable income pursuant to this section. (1) For purposes of this section, the term "net
operating loss" means the excess of the deductions allowed by this chapter over the gross
income. The excess shall be computed with the modifications specified in subdivision (5).
(2) A net operating loss may be carried back to each of the two taxable years preceding the
taxable year of the loss. A net operating loss carryover may be carried to each of the 15
years following the taxable year of the loss. (3) The entire amount of the net operating loss
for any taxable year (hereinafter referred to as the "loss year") shall be carried
to the earliest of the taxable years to which, by reason of subdivision (2) that loss may
be carried. The portion of the loss which shall be carried to each of the other taxable years
shall...
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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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40-9-21
Section 40-9-21 Principal residences and 160 acres adjacent thereto of permanently and totally
disabled persons or persons 65 years of age or older having net annual federally taxable income
of $12,000 or less. (a) In addition to the persons and property exempt from ad valorem taxation
as prescribed in Section 40-9-1, the following shall also be exempt from ad valorem taxation:
The principal residence and 160 acres adjacent thereto of any person who is permanently and
totally disabled or who is 65 years of age or older having a net annual taxable income of
twelve thousand dollars ($12,000) or less, as shown on such person's and spouse's latest United
States income tax return or some other appropriate evidence acceptable to the department.
In the event that such person and spouse are not required to file a United States income tax
return, then an affidavit indicating that the net taxable income of such person and spouse
for the preceding taxable year was twelve thousand dollars...
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5-12A-15
Section 5-12A-15 Taxation. A common trust fund, whether established, maintained, and administered
pursuant to the requirements of this chapter or established, maintained, administered, and
invested in without regard to the requirements and limitations of this chapter, as provided
in Section 5-12A-13, shall not be subject to taxation under any income tax law of the State
of Alabama. The computation of gain, loss, basis, taxable income, taxable loss, and other
income tax treatment of a common trust fund and its participants, shall be determined in accordance
with 26 U.S.C. §584, as amended from time to time. Every trust institution maintaining a
common trust fund shall make a return under oath for each fiscal year stating specifically
with respect to the fund the items of gross income and the deductions allowed by law, and
shall include in the return the names and addresses of the participants entitled to share
in the net income of the fund and the amount of the proportionate share of...
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15-22-2
Section 15-22-2 Supervision fee; Probationer's Upkeep Fund; exclusion from taxable income;
compliance with rules and regulations. (a)(1) Any person who is placed on parole by the Board
of Pardons and Paroles or any person who is granted probation by a court of competent jurisdiction
and who is subject to supervision by the Board of Pardons and Paroles and who has an income
shall be required to contribute forty dollars ($40) per month toward the cost of his or her
supervision and rehabilitation beginning 30 days from the date he or she has an income. The
sum shall be deducted by the parolee or probationer from his or her monthly income and delivered
to the Board of Pardons and Paroles each month for deposit in the General Fund of the State
Treasury. By prior agreement between an employer and employee, an employer may deduct forty
dollars ($40) from the monthly net earned income of the parolee or probationer and remit the
amount to the Board of Pardons and Paroles each month. The...
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27-1-24.1
Section 27-1-24.1 Incentives for homeowners insurance policies with wind coverage in certain
areas. (a) Insurance carriers providing full property and casualty coverage, to specifically
include wind and hail coverage, to property owners within the areas defined in Section 27-1-24,
including any portion of the area as it may be expanded from time to time pursuant to Section
27-1-27, but only on properties that as of the time of writing are insured for wind coverage
through the Alabama Insurance Underwriting Association, may claim as a nonrefundable credit
against the insurance premium tax imposed by Chapter 4A of this title, in an amount equal
to 20 percent of the insurance premium tax otherwise due on the premium written for the property
owners for the taxable year in Zones B4, B5, M4, M5, or successor zones; and 35 percent of
the insurance premium tax otherwise due on the premium written for the property owners for
the taxable year in Zones Gulf Front, B1, B2, B3, M1, M2, M3, or...
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