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40-18-1.1
Section 40-18-1.1 Operating rules. (a) For purposes of this chapter, the statement that gain,
loss, income, basis, earnings and profits, or any other item shall be determined in accordance
with a specified section or sections of Title 26 United States Code (26 U.S.C.) or a specified
federal public law (Pub. L. or P.L.) means that the principles set forth in such specified
section or sections and the computations required by such section or sections shall be applied
for purposes of this chapter, but shall be applied to the amounts of gain, loss, income, basis,
earnings, and profits or other items determined for purposes of this chapter and not to such
items for federal income tax purposes. (b) The Legislature hereby finds and declares that
the adoption by this state for its personal and corporate income tax purposes of certain provisions
of the laws of the United States relating to the determination of income for federal income
tax purposes will (1) simplify preparation of state income...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-1.1.htm - 2K - Match Info - Similar pages
40-18-23
Section 40-18-23 Taxpayers engaged in multistate business - Option of certain taxpayers to
report and pay tax on basis of percentage of volume. Any taxpayer who has taxable income from
business activities both within and without this state, whose only business activities within
this state consist of sales and do not include owning or renting real estate or tangible personal
property, and whose dollar volume of gross sales made during the tax year within this state
is not in excess of $100,000 may elect to report and pay any income tax due on the basis of
a percentage of such volume. If a taxpayer elects to report and pay income tax due on the
basis of a percentage of sales in this state, the percentage rate shall be one fourth of one
percent of such volume of sales. The report shall be made on forms prescribed by the Commissioner
of Revenue and shall be due and payable on the same date and in the same manner as provided
in Sections 40-18-27 and 40-18-39. (Acts 1967, No. 392, p. 979,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-23.htm - 1K - Match Info - Similar pages
40-18-26
Section 40-18-26 Information from source of income. Every resident individual, corporation,
association, or agent shall make a report to the Department of Revenue of complete information
covering the amount of all interest, rent, salaries, wages, premiums, annuities, compensations,
remunerations, emoluments, or other fixed or determinable gains, profits and income, except
interest coupons payable to bearer, of any taxpayer taxable under this chapter, of $1,500
or more in any taxable year under such regulations and in such form and manner and to such
extent as may be prescribed by the Department of Revenue. (Acts 1935, No. 194, p. 256; Code
1940, T. 51, §393.)...
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40-18-71
Section 40-18-71 Withholding tax. (a) Every employer, as defined under the laws of the United
States in effect July 1, 1982, or as subsequently may be defined, with respect to income tax
collected at source, making payment of wages as defined under such laws to employees, shall
deduct and withhold upon such wages, reduced by the optional standard deduction provided in
subsection (b) of Section 40-18-15 and the federal income tax withheld, a tax equal to two
percent of the first $500 or less, four percent of the next $2,500 or less, five percent of
the excess over $3,000, by which the amount of such wages paid or to be paid in the calendar
year by such employer to such employee, exceeds the amount of the exemptions granted to such
employee under Section 40-18-19 as claimed on a certificate to be filed with the employer
in such form and containing such information and detail as may be prescribed by the commissioner,
pursuant to the provisions of Section 40-18-73; provided, however, that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-71.htm - 3K - Match Info - Similar pages
40-9-21
Section 40-9-21 Principal residences and 160 acres adjacent thereto of permanently and totally
disabled persons or persons 65 years of age or older having net annual federally taxable income
of $12,000 or less. (a) In addition to the persons and property exempt from ad valorem taxation
as prescribed in Section 40-9-1, the following shall also be exempt from ad valorem taxation:
The principal residence and 160 acres adjacent thereto of any person who is permanently and
totally disabled or who is 65 years of age or older having a net annual taxable income of
twelve thousand dollars ($12,000) or less, as shown on such person's and spouse's latest United
States income tax return or some other appropriate evidence acceptable to the department.
In the event that such person and spouse are not required to file a United States income tax
return, then an affidavit indicating that the net taxable income of such person and spouse
for the preceding taxable year was twelve thousand dollars...
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40-14A-31
Section 40-14A-31 (Repealed for taxable years beginning on or after January 1, 2002.) Levy
of tax. (a) There is hereby levied an annual shares tax on all corporations incorporated or
organized under the laws of Alabama, qualifying or registering to do business, or doing business
in Alabama, unless otherwise exempted in this article; provided that all assets and other
items of a disregarded entity shall be taken into account in determining the shares tax base
of its owner and the disregarded entity shall not be subject to the tax levied by this article.
The tax shall accrue as of January 1, 2000, and on January 1 of every taxable year thereafter,
or in the case of a taxpayer incorporated or organized during the year, qualifying to do business
during the year, or beginning to do business in Alabama for the first time during the year,
as of the date the taxpayer incorporated, organized, qualifies, or begins to do business in
Alabama, as the case may be. Except as provided in the following...
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27-4A-3
Section 27-4A-3 Generally. (a) Subject to the exceptions and exemptions hereinafter set forth,
for the year beginning on January 1, 1995, and for each year thereafter, every insurer shall
pay to the commissioner a premium tax equal to the percentage, as set out in this subsection,
of the premiums received by the insurer for business done in this state, whether the same
was actually received by the insurer in this state or elsewhere: (1) PREMIUM TAX ON LIFE INSURANCE
PREMIUMS. a. Except as hereinafter provided, the rates of taxation on life insurance premiums
shall be those amounts set out in the following schedule: Year Foreign Insurers Domestic Insurers
1995 2.9 1.3 1996 2.8 1.6 1997 2.7 1.8 1998 2.5 2.1 Every Year Thereafter 2.3 2.3 b. Individual
life insurance policies in a face amount of greater than $5,000 and up to and including $25,000,
excluding group life insurance policies, shall be taxed at the rate of one percent per annum.
c. Individual life insurance policies in a face...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-4A-3.htm - 16K - Match Info - Similar pages
40-17-327
Section 40-17-327 Taxable unaccounted for motor fuel losses at a terminal. (a) There is hereby
annually levied a tax at the rates specified by Section 40-17-325 on taxable unaccounted for
motor fuel losses at a terminal in this state. For the purposes of this section, taxable unaccounted
for motor fuel losses shall mean the number of net gallons of unaccounted for motor fuel losses
that exceed one half of one percent of the number of net gallons removed from the terminal
during the year by a bulk transfer or at the terminal rack. Unaccounted for motor fuel losses
means the difference between: (1) The amount of motor fuel in inventory at the terminal at
the beginning of the calendar year plus the amount of motor fuel received by the terminal
during the year; and (2) the amount of motor fuel in inventory at the terminal at the end
of the calendar year plus the amount of motor fuel removed from the terminal during the year.
Accounted for motor fuel losses which have been approved by the...
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40-18-6.1
Section 40-18-6.1 Gain or loss - Special rules for capital gains invested in opportunity zones.
(a) The provisions in 26 U.S.C. § 1400Z-2 shall be applicable to an investment in an approved
opportunity fund in calculating both of the following: (1) The income tax levied by this chapter,
or the estimated income tax payment. (2) The financial institution excise tax found in Chapter
16. (b) Any approved opportunity fund may enter into a project agreement with ADECA to provide
to the fund's investors impact investment tax credits against any tax liability described
in subdivisions (1) and (2) of subsection (a). The impact investment tax credits shall be
allocated annually, but only to the extent that one or more projects undertaken by the fund
are not producing the returns provided in the project agreement. Provided however, the calculation
of the impact investment tax credit does not guarantee a rate of return that is more than
the 52-week average yield rate for the United States 10-year...
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40-21-53
Section 40-21-53 Electric, hydroelectric, gas, or any other public utility - License tax -
Credit on electric bills for certain persons. (a) Each person, firm, or corporation, including
any corporations operating an electric or hydroelectric public utility; or a gas public utility;
or any privately owned and operated wastewater system as defined in Section 22-25B-1 which
is required by Chapter 25B of Title 22, to be operated and maintained by a wastewater management
entity certified by the Public Service Commission; or any other public or municipal utility
now paying the two and two-tenths percent shall be subject to the provisions of this section
and shall pay to the state a license tax equal to two and two-tenths percent on each $1 of
gross receipts of such public utility for the preceding year; except, that gross receipts
from the sale of electricity for resale by such electric or hydroelectric public utilities
and gross receipts from the sale of electricity to the persons...
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