40-18-413
Section 40-18-413 (Per Section 40-18-416, this section is repealed following
the close of fiscal year 2020) Scope and use of Growing Alabama Credits. (a) A taxpayer is
allowed a Growing Alabama Credit to be applied against the tax levied by this chapter. In
no event shall the Growing Alabama Credit cause a taxpayer's income tax liability to be reduced
by more than 50 percent. Unused credits may be carried forward for no more than five years.
(b) Growing Alabama Credits shall be granted to taxpayers using an online system administered
by the Department of Revenue. The online system shall allow taxpayers to agree to make a cash
contribution to an economic development organization which was approved by the Renewal of
Alabama Commission, as provided in Section 40-18-412. The online system shall ensure
that credits are not granted for contributions to an economic development organization in
excess of the amounts approved by the Renewal of Alabama Commission, as provided in Section...

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40-29-90
Section 40-29-90 Jeopardy assessment - For income tax. (a) Termination of taxable period.
If the commissioner or his delegate finds that a taxpayer designs quickly to depart from the
State of Alabama or to remove his property therein, or to do any other act tending to prejudice
or to render wholly or partly ineffectual proceedings to collect the income tax for the current
or the preceding taxable year unless such proceedings be brought without delay, the commissioner
or his delegate shall declare the taxable period for such taxpayer immediately terminated,
and shall cause notice of such finding and declaration to be given the taxpayer, together
with a demand for immediate payment of the tax for the taxable period so declared terminated
and of the tax for the preceding taxable year or so much of such tax as is unpaid, whether
or not the time otherwise allowed by law for filing return and paying the tax has expired;
and such taxes shall thereupon become immediately due and payable. In...
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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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40-18-25.2
Section 40-18-25.2 Estates and trusts - Deductions from gross income of net operating
loss. (a) Nothing in Act 2006-114 shall be construed to change or otherwise affect a taxpayer's
liability relating to a tax year beginning prior to the effective date of Act 2006-114. (b)
Should: (1) any trust which is described in Section 40-18-25(b), or (2) any business
trust, as such term is defined in Section 40-18-1(1), which is classified as a disregarded
entity for federal income tax purposes, be taxed separately from its owner or owners during
tax years prior to the effective date of Act 2006-114, any net operating loss of such trust
existing on December 31, 2004, shall be allowed as a deduction from the gross income, or net
income, of the owner or owners of the trust in a tax year beginning after December 31, 2004.
(c) The deduction allowed in subsection (b) to the owner or owners of the trust shall be in
an amount not to exceed the greater of the following amounts: (1) the amount which is...
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26-16-31
Section 26-16-31 (Repealed effective for tax years beginning after December 31, 2005)
State income tax refund designation program - Authorization; procedure. (a) For the tax year
beginning October 1, 1983, and until the State Treasurer certifies that the assets in the
Children's Trust Fund exceed $10,000,000, a resident individual taxpayer who files an Alabama
income tax return and who is entitled to an income tax refund from the State Department of
Revenue sufficient to make a designation under this section may designate that $5,
$10, $25 or other sum of his or her refund be credited to the Children's Trust Fund. In the
case of a joint return of husband and wife who are entitled to a tax refund sufficient to
make a designation under this section, a designation may be made in the same denominations
or sums of their refund to be credited to the Children's Trust Fund. Such designation shall
be made by marking the appropriate box, printed on the return pursuant to subsection (b) of
this...
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40-18-15
Section 40-18-15 Deductions for individuals generally. (a) No deduction shall be allowed
for any losses, expenses, or interest deferred or disallowed pursuant to 26 U.S.C. § 267
or for any cost required to be capitalized in accordance with 26 U.S.C. § 263A; otherwise,
there shall be allowed as deductions: (1) All ordinary and necessary expenses paid or incurred
during the taxable year in carrying on any trade or business, as determined in accordance
with 26 U.S.C. § 162. (2) Interest paid or accrued within the taxable year on indebtedness,
limited to the amount allowable as an interest deduction for federal income tax purposes in
the corresponding tax year or period pursuant to the provisions of 26 U.S.C. §§ 163, 264,
and 265. (3) The following taxes paid or accrued within the taxable year: a. Income taxes,
Federal Insurance Contribution Act taxes, taxes on self-employment income and estate and gift
taxes imposed by authority of the United States or any possession of the United...
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40-18-154
Section 40-18-154 Alabama Military Support Foundation, Inc. - Contribution designation.
(a) Each Alabama state individual income tax return form for the 2009 tax year and each year
thereafter shall contain a designation as follows: "Alabama Military Support Foundation,
Incorporated. "Check ( ) if you wish to designate $1, $5, $10, or more of your state
income tax refund. "If joint return, check ( ) if spouse wishes to designate $1, $5,
$10 or more." (b) Each individual taxpayer required to file a state income tax return
desiring to contribute to the Alabama Military Support Foundation, Incorporated, may designate,
by placing an "X" in the appropriate box on the state income tax form, that such
contribution shall be credited to the foundation. (c) The Department of Revenue shall determine
annually the total amount designated pursuant to subsection (b) for the commission and shall
deposit such amount, less costs of administration not to exceed 10 percent of revenue produced,
to the...
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40-18-155
Section 40-18-155 Alabama Firefighters Annuity and Benefit Fund. (a) Each Alabama state
individual income tax return form for the 2010 tax year and each year thereafter shall contain
a designation as follows: "Alabama Firefighters Annuity and Benefit Fund. "Check
( ) if you wish to designate $2 or more of your state income tax refund. "If joint return,
check ( ) if spouse wishes to designate $2 or more." (b) Each individual taxpayer required
to file a state income tax return desiring to contribute to the Alabama Firefighters Annuity
and Benefit Fund, may designate, by placing an "X" in the appropriate box on the
state income tax form, that such contribution shall be credited to the foundation. (c) The
Department of Revenue shall determine annually the total amount designated pursuant to subsection
(b) for the fund and shall deposit such amount, less costs of administration not to exceed
three percent of revenue produced, to the fund. (d) The commissioner of the department is
authorized...
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40-18-56
Section 40-18-56 Furnishing sworn statement of annual return of income to department;
penalties for failure to comply; limitations on inspection of taxpayer's records. The Department
of Revenue may at any time, in its discretion, require the taxpayer to furnish a sworn statement
of the annual return of income made under the provisions of the act of Congress of the United
States for the calendar or fiscal year in question or for the preceding calendar or fiscal
year. Any person who shall willfully fail to comply with this demand shall be guilty of a
misdemeanor and, on conviction thereof, shall be fined not more than $100, and may be sentenced
to hard labor for the county for not more than six months, or both. No taxpayer shall be subjected
to unnecessary examination or investigation, and only one inspection of a taxpayer's books
or accounts shall be made for a taxable year unless the taxpayer requests otherwise or unless
the Department of Revenue, after investigation, notifies the...
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40-9F-33
Section 40-9F-33 Limitations on tax credits; Historic Income Tax Credit Account; transfer
or assignment of tax credits. (a) The state portion of any tax credit against the tax imposed
by Chapter 18 for the taxable year in which the certified rehabilitation is placed in service,
shall be equal to 25 percent of the qualified rehabilitation expenditures for certified historic
structures. No tax credit claimed for any certified rehabilitation may exceed five million
dollars ($5,000,000) for all allowable property types except a certified historic residential
structure, and fifty thousand dollars ($50,000) for a certified historic residential structure.
(b) There is created within the Education Trust Fund a separate account named the Historic
Preservation Income Tax Credit Account. The Commissioner of Revenue shall certify to the Comptroller
the amount of income tax credits under this section and the Comptroller shall transfer
into the Historic Preservation Income Tax Credit Account only...
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