40-9A-1
Section 40-9A-1 Definitions. For purposes of this chapter, the following words and phrases
mean: (a) PRIVATE USER. Any individual, partnership, or corporation organized for profit that
is or will be treated as the owner of private use property for federal income tax purposes.
(b) PRIVATE USE PROPERTY. Any real and/or personal property which is or will be treated as
owned by a private user for federal income tax purposes even though title may be held by a
public authority or municipal or county government. (c) PUBLIC AUTHORITY. A corporation created
for public purposes pursuant to a provision of the Constitution of Alabama of 1901 or a general
or local law that authorized it to issue bonds, the interest on which is exempt from the Alabama
income tax, as in effect on May 21, 1992. (Acts 1992, No. 92-598, §1.)...
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41-6-53
Section 41-6-53 Gifts deemed gifts to state; deduction of amount of gift for income tax purposes.
Every gift to the Department of Archives and History payable into the fund, whether or not
the use thereof is prescribed by the donor or the gift is designated as a memorial to a specified
person, shall be deemed a gift to the State of Alabama. The donor in computing his net income
for state income tax purposes for the year in which he makes the gift may deduct the amount
of the gift from his gross income as authorized in Section 40-18-15. (Acts 1967, No. 522,
p. 1252, §4.)...
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19-3A-506
Section 19-3A-506 Adjustments between principal and income because of taxes. (a) A fiduciary
may make adjustments between principal and income to offset the shifting of economic interests
or tax benefits between income beneficiaries and remainder beneficiaries which arise from
any of the following: (1) Elections and decisions, other than those described in subsection
(b), that the fiduciary makes from time to time regarding tax matters; (2) An income tax or
any other tax that is imposed upon the fiduciary or a beneficiary as a result of a transaction
involving a decedent's estate, a trust, or a distribution from a decedent's estate or a trust;
or (3) The ownership by a decedent's estate or trust of an interest in an entity whose taxable
income, whether or not distributed, is includable in the taxable income of the decedent's
estate, trust, or a beneficiary. (b) If the amount of an estate tax marital deduction or charitable
contribution deduction is reduced because a fiduciary deducts...
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40-18-58
Section 40-18-58 Appropriation. There is hereby appropriated out of the proceeds of the income
tax levied and collected under the provisions of this chapter to the Property Tax Relief Fund
such an amount as may be necessary for the replacement of any revenues lost by reason of the
exemption of homesteads from all state ad valorem taxes as provided for in this title, after
provision has been made for the payment of any and all expenses incurred by the Department
of Revenue in the administration of this chapter and in the collection of the taxes as provided
herein; provided, that the amount of such expenses, including salary, travel, equipment, and
all items of cost necessary for the enforcement of the provisions of this chapter shall be
limited to the amount appropriated therefor by the Legislature in the general appropriation
bill and shall be budgeted, allotted and expended pursuant to the provisions of Article 4
of Chapter 4 of Title 41. The Comptroller, with the approval of the...
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40-2A-17
Section 40-2A-17 Allocation , etc., of gross income, deductions, etc., between entities controlled
by the same interests; improper contingent fees. For purposes of the tax imposed in Chapter
18 of this title, the following rules shall apply: (a) In any case of two or more organizations,
trades, or businesses (whether or not affiliated within the meaning of 26 U.S.C. § 1504)
owned or controlled directly or indirectly by the same interests, the Commissioner of the
Alabama Department of Revenue may distribute, apportion, or allocate gross income, deductions,
credits, or allowances, if the commissioner determines that such distribution, apportionment,
or allocation is necessary in order to prevent evasion of Alabama income taxes or to clearly
reflect the income of any such organization, trade, or business. (b) Any transaction based
upon tax planning advice, tax return preparation advice, or tax return preparation services
with respect to which an improper contingent fee is directly or...
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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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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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40-18-78
Section 40-18-78 Credit for tax withheld. The amount deducted and withheld as tax under Section
40-18-71 during any calendar year upon the wages of any individual shall be allowed as a credit
to the recipient of the income against the tax imposed by Section 40-18-5 for taxable years
beginning in such calendar year. If more than one taxable year begins in such calendar year,
such amount shall be allowed as a credit against the tax for the last taxable year so beginning.
(Acts 1955, No. 289, p. 661, §9.)...
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9-12-232
Section 9-12-232 Commercial gill net permits - Acquisition and retirement. (a) The Department
of Conservation and Natural Resources shall establish and administer a voluntary program to
acquire and retire commercial gill net permits of saltwater commercial fishermen issued pursuant
to Section 9-12-113. (b) Each resident Alabama saltwater commercial fisherman who possesses
a valid Alabama permit June 1, 2008, and any nonresident commercial fisherman who has held
a commercial gill net license for 25 years or more without a fishing violation who possesses
a valid Alabama permit on June 1, 2008, may surrender his or her license on or before March
1, 2009. (c) Upon surrender of the license, the following shall apply: (1) If the total income
of the license holder from dockside value of finfish harvested and landed in Alabama using
gill nets in the last three years was less than five thousand dollars ($5,000), the licensee
shall receive a payment from the Department of Conservation and...
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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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