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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40-6A-4
Section 40-6A-4 Salary must equal net personal income. All officials who are being converted
from a fee basis to a salary basis by this chapter, whose net personal income from fees, commissions,
allowances, or other compensation for the tax year next preceding May 4, 1982 are higher than
the salaries specified in the foregoing schedule, shall be placed on a salary equal to their
net personal income for such year. Such salary for said officials being converted from a fee
basis to a salary basis shall continue, subject to the other provisions of this chapter, for
as long as said officials continuously remain in office, and upon vacation of their office
for whatever cause the salary of their successor shall be determined according to the schedule
set forth in Section 40-6A-2 hereof, unless otherwise provided by the passage of local
legislation affecting any of such counties. The net personal income of such officials during
the tax year next preceding the effective date of this chapter...
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40-18-19
Section 40-18-19 Exemptions - Generally. (a) The following exemptions from income taxation
shall be allowed to every individual resident taxpayer: (1) Retirement allowances, pensions
and annuities, or optional allowances, approved by the Board of Control of the Teachers' Retirement
System of Alabama, which exempt status is set out in Section 16-25-23. (2) Retirement
allowances, pensions and annuities or optional allowances, approved by the Board of Control
of the Employees' Retirement System of Alabama, which exempt status is set out in Section
36-27-28. (3) The first eight thousand dollars ($8,000) of any retirement compensation, retirement
allowances, pensions and annuities, or optional allowances, received by any eligible firefighter,
as defined in Sections 36-32-1 and 36-32-2, or his or her designated beneficiary, from any
firefighting agency established in the State of Alabama, but only if such retirement compensation,
retirement allowances, pensions and annuities, or optional...
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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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40-18-312
Section 40-18-312 Distributions from catastrophe savings account; additional tax. (a)
A distribution from a catastrophe savings account must be included in the income of the taxpayer
unless the amount of the distribution is used to cover qualified catastrophe expenses. (b)
No amount is included in income, pursuant to subsection (a), if the qualified catastrophe
expenses of the taxpayer during the taxable year are equal to or greater than the aggregate
distributions during the taxable year. (c) If aggregate distributions exceed the qualified
catastrophe expenses during the taxable year, the amount otherwise included in income must
be reduced by the amount of the distributions for qualified catastrophe expenses. (d)(1) The
tax paid pursuant to Section 40-18-5, attributable to a taxable distribution must be
increased by two and one-half percent of the amount which is includable in income. (2) This
additional tax does not apply if any of the following occur: a. The taxpayer no longer owns...

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16-60-351
Section 16-60-351 Credit for qualifying education expenses. (a)(1) For tax years commencing
January 1, 2015, and thereafter, a taxpayer who files a state income tax return and is not
a dependent of another taxpayer may claim a tax credit for a contribution made to the Department
of Postsecondary Education for qualifying educational expenses directly associated with the
Career-Technical Dual Enrollment Program as defined by State Board of Education policy. (2)
The tax credit may be claimed by the taxpayer in an amount equal to 50 percent of the total
contribution or contributions made to the Department of Postsecondary Education during the
taxable year for which the credit is claimed, but such credit is not to exceed an amount greater
than 50 percent of the taxpayer's total Alabama income tax liability, and in no case more
than five hundred thousand dollars ($500,000) for any given tax year. (3) The cumulative amount
of tax credits issued pursuant this article shall not exceed five...
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26-16-32
Section 26-16-32 State income tax refund designation program - Disposition of contributions.
(a) Each year that the refund designation program established in Section 26-16-31(a),
above, is in effect, the Commissioner of the Department of Revenue shall transfer to the Children's
Trust Fund an amount equal to the total amount designated by individuals to be paid to the
fund under this article, less an amount, equal to not more than three percent of the total
of such funds then collected, for the additional cost incurred by the Department of Revenue
in collecting and handling such funds which shall be deposited the General Fund of the State
Treasury for the use of the Revenue Department. Such deposits shall be made not less than
quarterly commencing with the first day such funds are collected from the taxpayer. (b) Moneys
contained in the Children's Trust Fund are continuously appropriated to the Child Abuse and
Neglect Prevention Board for the purposes set out in Section 26-16-30(f) of...
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37-11C-4
Section 37-11C-4 Allowance and claim of tax credits; Railroad Rehabilitation Income
Tax Credit Account; written transfer agreements. (a) For tax years beginning after December
31, 2019, there is a credit allowed against the state income tax levied by Section
40-18-2 equal to 50 percent of an eligible taxpayer's qualified railroad rehabilitation expenditures.
The tax credit allowed under this section may not exceed three thousand five hundred
dollars ($3,500) multiplied by the number of miles of railroad track owned or leased within
the state by the eligible taxpayer at the close of the taxable year. (b) There is created
within the Education Trust Fund a separate account named the Railroad Rehabilitation Income
Tax Credit Account. The Commissioner of Revenue shall certify to the state Comptroller the
amount of income tax credits under this section and the state Comptroller shall transfer
into the Railroad Rehabilitation Income Tax Credit Account only the amount from sales tax
revenues...
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40-18-11
Section 40-18-11 Inventory. Whenever in the opinion of the Department of Revenue the
use of inventories is necessary in order clearly to determine the income of any taxpayer,
the inventory shall be taken by such taxpayer in accordance with the methods and procedures
prescribed in 26 U.S.C. §§263A, 471, 472, 473 and 474. (Acts 1935, No. 194, p. 256; Code
1940, T. 51, §381; Acts 1990, No. 90-583, p. 988, §5.)...
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40-18-376.2
Section 40-18-376.2 Additional jobs credit for employment of veterans. (a) The provisions
in this section shall apply to the following: (1) Any incentivized company that employed,
in the prior year, at least 12 percent of its eligible employees as veterans who received
an honorable or general discharge. The calculation of the percentage of eligible employees
who are veterans shall be made using the method provided in a project agreement. (2) Any incentivized
company that employed eligible employees by or through a qualifying project located within
a former active duty military installation closed by the Base Realignment and Closure process.
(b)(1) Any incentivized company described by subdivision (1) of subsection (a) shall receive
an additional 0.5 percent jobs credit provided in Section 40-18-375(a) on the wages
paid during the prior year to eligible employees who are veterans. (2) Any incentivized company
described by subdivision (2) of subsection (a) shall receive an additional 0.5...
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