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40-29B-4
Section 40-29B-4 Eligibility. (a) Notwithstanding any provision of law to the contrary, and
except as provided in subsection (b) of Section 40-29B-3, the following taxes are eligible
for amnesty: (1) Taxes due prior to January 1, 2017. (2) Taxes for taxable periods that began
before January 1, 2017. (b) Participation in the amnesty program shall be conditioned upon
the agreement of the taxpayer to waive any right to protest or initiate an administrative
or judicial proceeding. The agreement shall apply only to the specific tax and the tax period
for which amnesty is granted. (c) Amnesty may be granted only for eligible taxes to eligible
taxpayers who have not been contacted by the department in the past two years concerning the
tax type for which amnesty has been applied and who apply for amnesty during the amnesty period
prescribed by this chapter. Amnesty applications must be submitted in an electronic manner
as prescribed by the department. (d) Amnesty applications shall include a...
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27-2B-4
Section 27-2B-4 Company action level event; preparation and submission of RBC plan or revised
RBC plan; notification of unsatisfactory filing; copies of plans. (a) Company action level
event means any of the following events: (1) The filing of an RBC report by an insurer which
indicates any of the following: a. The insurer's total adjusted capital is greater than or
equal to its regulatory action level RBC, but less than its company action level RBC. b. If
a life or health insurer or fraternal benefit society, the insurer has total adjusted capital
which is greater than or equal to its company action level RBC but less than the product of
its authorized control level RBC and 3.0 and has a negative trend. c. If a property and casualty
insurer or a health organization, the insurer has total adjusted capital which is greater
than or equal to its company action level RBC, but less than the product of its authorized
control level RBC and 3.0, and triggers the trend test determined in...
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40-14A-24
Section 40-14A-24 Net worth in Alabama. (a) A taxpayer's net worth in Alabama shall be determined
by apportioning the taxpayer's net worth computed under Section 40-14A-23 in the same manner
as prescribed for apportioning income during the determination period for purposes of the
income tax levied by Chapter 18, or the manner in which the income would be apportioned if
the taxpayer were subject to the income tax, or for the purposes of the financial institution
excise tax levied by Chapter 16; provided, however, that the net worth of insurers subject
to the insurance premium tax levied by Chapter 4A of Title 27 shall be apportioned on the
basis of the ratio of the insurer's Alabama premium income to its nationwide total direct
premiums as reflected on schedule T of the insurer's annual statement filed with the Commissioner
of Insurance for the then immediately preceding calendar year. (b) There shall be deducted
from the amount of net worth in Alabama as determined in accordance with...
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40-18-16
Section 40-18-16 Depreciation. (a) Basis for depreciation. The basis upon which exhaustion,
wear and tear, depreciation and obsolescence are to be allowed shall be such reasonable allowance
as may be determined by the Department of Revenue on the adjusted basis provided in Section
40-18-6 for the purpose of determining the gain or loss upon sale or other disposition of
such property. (b) Basis for depletion. (1) GENERAL RULE. The basis upon which depletion is
to be allowed shall be such reasonable allowance as may be determined by the Department of
Revenue on the adjusted basis provided in Section 40-18-6 for the purpose of determining the
gain or loss upon the sale or other disposition of such property, except as provided in subdivision
(2) of this subsection. (2) AMOUNT. In the case of oil and gas wells, the allowance for depletion
shall be 12 percent of the gross income from the property during the taxable year, excluding
from such gross income an amount equal to any rents or...
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40-14A-1
Section 40-14A-1 Definitions. For purposes of this chapter, the following terms shall mean:
(a) ALABAMA S CORPORATION. An S corporation defined under Section 40-18-160. (b) C CORPORATION.
A corporation other than an Alabama S corporation. (c) CODE. The Internal Revenue Code of
1986, as amended from time to time. (d) CORPORATION. An entity, including a limited liability
company electing to be taxed as a corporation for federal income tax purposes, through which
business can be conducted while offering limited liability to the owners of the entity with
respect to some or all of the obligations of the entity, other than a limited liability entity
or a disregarded entity. The term "corporation" shall include but not be limited
to the following: Corporations, professional corporations, joint stock companies, unincorporated
professional associations, real estate investment trusts, limited liability companies electing
to be taxed as corporations for federal income tax purposes, and all...
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40-14A-34
Section 40-14A-34 (Repealed for taxable years beginning on or after January 1, 2002.) Definition
of taxable shares base. The taxable shares base shall be determined as follows: (a) Multiply
the corporation's initial taxable shares base by the apportionment factor used to apportion
the corporation's income to Alabama for purposes of the Alabama income tax in accordance with
Chapter 18 or that would be used if the corporation were subject to income tax under Chapter
18. (b) From the amount determined in subsection (a), deduct the following: (1) The book value
of all devices, facilities, or structures, and all identifiable components or materials for
use therein, that are located in Alabama and are acquired or constructed primarily for the
control, reduction, or elimination of air, ground, or water pollution or radiological hazards
where such pollution or radiological hazards result from or would be caused by activities
of the taxpayer in Alabama; (2) The net amount invested by the...
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40-29A-3
Section 40-29A-3 Tax amnesty program. (a) The department shall develop and implement a tax
amnesty program in accordance with the provisions of this chapter. The commissioner may provide
by rule as necessary for the administration and implementation of the program. The commissioner
shall publicize the program in order to maximize the public awareness of and participation
in the program. The commissioner, for purpose of publicizing the program, may contract with
any advertising agency within or outside this state and use public service announcements,
pamphlets, mail notices, and print, television, and radio announcements. Such publications
shall include increasing public awareness that the program will provide amnesty for sales
and use tax due on internet, mail order, or other purchases made from out-of-state vendors
for which Alabama sales or use tax was not charged at the time of purchase. In furthering
the collections of amnesty, the commissioner may procure amnesty program...
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40-18-14
Section 40-18-14 Adjusted gross income of individuals. The term "gross income" as
used herein: (1) Includes gains, profits and income derived from salaries, wages, or compensation
for personal services of whatever kind, or in whatever form paid, including the salaries,
income, fees, and other compensation of state, county, and municipal officers and employees,
or from professions, vocations, trades, business, commerce or sales, or dealings in property
whether real or personal, growing out of ownership or use of or interest in such property;
also from interest, royalties, rents, dividends, securities, or transactions of any business
carried on for gain or profit and the income derived from any source whatever, including any
income not exempted under this chapter and against which income there is no provision for
a tax. The term "gross income" as used herein also includes alimony and separate
maintenance payments to the extent they are includable in gross income for federal income
tax...
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40-14A-33
Section 40-14A-33 (Repealed for taxable years beginning on or after January 1, 2002.) Definition
of initial taxable shares base. (a) Determine the sum of the following as of the first day
of the corporation's taxable year: (1) The outstanding capital stock and any additional paid-in
capital, but without reduction for treasury stock; and (2) Retained earnings, but not less
than zero, which shall include any amounts designated for the payment of dividends until the
amounts are definitely and irrevocably placed to the credit of stockholders subject to withdrawal
on demand. (b) From the amount determined under subsection (a), deduct: (1) The book value
of goods, wares, and merchandise held for sale; (2) The book value of the investment by the
taxpayer in the equity of other corporations doing business in Alabama. This subdivision shall
not apply if the taxpayer is a dealer in securities subject to 26 U.S.C. ยง1236. (3) Federal
obligations. a. For a taxpayer who does not hold federal...
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40-14A-25
Section 40-14A-25 Filing of returns. (a) Every taxpayer shall file a privilege tax return,
which shall include the public record disclosures required by Section 10-2B-16.22, with the
department for every taxable year for which it is subject to the tax levied by this article.
A disregarded entity that is owned by an individual, general partnership, or other entity
not subject to the tax levied by this article shall file a return and pay the tax levied on
it by this article. Except as provided in Section 40-14A-22(f) (4), the return required by
this section is due no later than the corresponding federal income tax return as required
to be filed as provided under federal law. In the case of a taxpayer's initial return, two
and one half months after the taxpayer comes into existence, qualifies or registers to do
business, or commences doing business in Alabama as the case may be. A disregarded entity
that is required to file a return by this section shall file the return not later than the...
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