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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...
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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,...
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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...
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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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