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40-2B-2
as it deems best adapted for public convenience. Such publications shall be made permanently
available and constitute the official reports of the Alabama Tax Tribunal. (p) Service of
Process. (1) Mailing by first class or certified or registered mail, postage prepaid, to the
address of the taxpayer given on the taxpayer's notice of appeal, or to the address of the
taxpayer's representative of record, if any, or to the usual place of business of the Department
of Revenue, shall constitute personal service on the other party. The Alabama Tax Tribunal,
by rule, may prescribe that notice by other means shall constitute personal service
and, in a particular case, may order that notice be given to additional persons or by other
means. (2) Mailing by registered or certified mail and delivery by a private delivery service
approved by the Internal Revenue Service in accordance with Section 7502(f) of the Internal
Revenue Code of 1986, as amended, shall be deemed to have occurred,...
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40-9B-3
23 of this title, or payments required to be made in lieu thereof, shall relieve the seller
from the obligation to collect and pay over the transaction tax as if the sale were to a person
exempt, to the extent of the abatement, from the transaction tax. (2) ALTERNATIVE ENERGY RESOURCES.
The definition given in Section 40-18-1. (3) CONSTRUCTION RELATED TRANSACTION TAXES. The transaction
taxes imposed by Chapter 23 of this title, or payments required to be made in lieu thereof,
on tangible personal property and taxable services incorporated into an industrial
development property, the cost of which may be added to capital account with respect to the
property, determined without regard to any rule which permits expenditures properly chargeable
to capital account to be treated as current expenses. (4) DATA PROCESSING CENTER. An establishment
at which not less than 20 new jobs are located, the average annual total compensation, including
benefits, of such new jobs to be not less than...
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37-11A-1
by the Governor, or upon its otherwise becoming a law, and when the State of Mississippi ratifies
the compact. Article III. For purposes of this compact, the following terms shall have the
following meanings: (1) Person means an individual, a corporation, a partnership, or any other
entity. (2) Railroad means a common carrier by railroad as defined in Section 1(3) of Part
I of the Interstate Commerce Act [codified as 49 U.S.C. §1(3)]. (3) Railroad properties and
facilities mean any real or personal property or interest in property which is owned,
leased, or otherwise controlled by a railroad or other person, including, without limitation,
the authority, and which are used or are useful in rail transportation service, including,
without limiting the generality of the foregoing: a. Track, roadbed, and related structures,
including rail, ties, ballast, other track materials, grading, tunnels, bridges, trestles,
culverts, elevated structures, stations, office buildings used for operating...
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40-18-175
Section 40-18-175 Tax imposed when passive investment income of corporation having subchapter
C earnings and profits exceeds 25 percent of gross receipts. (a) If for the taxable year an
Alabama S corporation has accumulated earnings and profits at the close of the taxable year
derived from years during which the corporation was an Alabama C corporation, and gross receipts
more than 25 percent of which are passive investment income, then there is imposed a tax on
the income of the corporation for the taxable year. The tax shall be computed by multiplying
the excess net passive income by five percent. (b) (1) For purposes of this section: a. Except
as provided in paragraph b below, the term "excess net passive income" means an
amount which bears the same ratio to the net passive income for the taxable year as (i) the
amount by which the passive investment income for the taxable year exceeds 25 percent of the
gross receipts for the taxable year, bears to (ii) the passive investment income...
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45-8-90
as security therefor its assets, and anticipated revenues; (8) to maintain civil actions and
have civil actions maintained against it and to defend civil actions against it; (9) to adopt
and alter bylaws for the regulation and conduct of its affairs and business; (10) to acquire,
receive, and take title to, by purchase, gift, lease, devise, or otherwise, to hold, keep,
and develop and to transfer, convey, lease, assign, or otherwise dispose of property of every
kind and character, real, personal, and mixed, and any and every interest therein,
located within the area of operation of the council, to any person; (11) to make, enter into,
and execute such contracts, agreements, leases, and other legal arrangements and to take such
steps and actions as may be necessary or convenient in the furtherance of any purpose or the
exercise of any power provided or granted to it by law; (12) to borrow money for any council
purpose, function, or use and to issue in evidence of the borrowing,...
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40-18-174
Section 40-18-174 Tax imposed on certain built-in gains. (a) If for any taxable year beginning
in the recognition period an Alabama S corporation has a net recognized built-in gain, there
is hereby imposed a tax (computed under subsection (b)) on the income of such corporation
for such taxable year. (b)(1) The amount of the tax imposed by subsection (a) shall be computed
by multiplying five percent by the net recognized built-in gain of the Alabama S corporation
for the taxable year. (2) Notwithstanding Section 40-18-168, any net operating loss carryforward
which would be deductible except for Section 40-18-168 and which arose in a taxable year for
which the corporation was not an Alabama S corporation, shall be allowed as a deduction against
the net recognized built-in gain of the Alabama S corporation for the taxable year. For purposes
of determining the amount of any such loss which may be carried to subsequent taxable years,
the net recognized built-in gain shall be treated as...
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40-18-162
Section 40-18-162 Determination of tax of shareholder. (a) In determining the tax of a shareholder
for the shareholder's taxable year in which the taxable year of the Alabama S corporation
ends, or for the final taxable year of a shareholder who dies or of a trust or estate that
terminates before the end of the corporation's taxable year, there shall be taken into account
the shareholder's pro rata share of the corporation's: (1) Items of income, including tax-exempt
income, loss, deduction, or credit the separate treatment of which could affect the liability
for tax of any shareholder, including charitable contributions, and (2) Nonseparately computed
income or loss. The term "nonseparately computed income or loss" means gross income
minus the deductions allowed to the corporation under this article, determined by excluding
all items described in subdivision (1) of this subsection. (b) The character of any item included
in a shareholder's pro rata share under subsection (a) of this...
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40-18-35
Section 40-18-35 Deductions allowed to corporations. (a) The following items shall be deducted
from federal taxable income for purposes of computing taxable income under this chapter: (1)
Refunds of state and local income taxes. (2) Federal income tax paid or accrued during the
taxpayer's taxable year. The portion of federal income tax deductible by a corporation earning
income from sources both inside and outside of Alabama shall be determined by the ratio that
the corporation's taxable income, computed without the deduction for federal income tax, apportioned
and allocated to Alabama bears to the corporation's taxable income, computed without the deduction
for federal income tax, apportioned and allocated everywhere. (3) Interest income earned on
obligations of the United States. (4)a. Interest income earned on obligations of the State
of Alabama or its subdivisions or instrumentalities thereof to the extent included in gross
income for the purposes of federal income taxation. b....
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40-18-28
Section 40-18-28 Returns of subchapter K entities and single member limited liability companies.
Every subchapter K entity, and every single member limited liability company, shall make a
return to the Department of Revenue for each taxable year, stating specifically the items
of its gross income and the deductions allowed by this chapter, and shall include in the return
the names and addresses of the partners or members and the amount of the distributive share
of each partner or member. The return must be subscribed by the person who makes it and must
contain a printed declaration that it is made under the penalties of perjury. A person who
willfully makes and subscribes a return which he or she does not believe to be true and correct
as to every material particular shall be guilty of perjury and upon conviction shall be punished
as prescribed in Section 40-18-27. (Acts 1935, No. 194, p. 256; Code 1940, T. 51, §395; Acts
1961, Ex. Sess., No. 188, p. 2158; Acts 1997, No. 97-625, p....
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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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