45-37A-351.01
Section 45-37A-351.01 Ad valorem tax increase. (a) In addition to any taxes now authorized or that may hereafter be authorized by the constitution and laws of the State of Alabama, pursuant to Amendment 336 to the Constitution of Alabama of 1901, as amended, an increase of the municipal ad valorem tax presently being levied pursuant to Amendment 336 to the Constitution of Alabama of 1901 in the City of Mountain Brook in Jefferson County from the rate of one dollar and six cents on each one hundred dollars worth of taxable property in the City of Mountain Brook to the rate of two dollars and thirty-six cents on each one hundred dollars worth of taxable property in the City of Mountain Brook (an increase of one dollar and thirty cents on each one hundred dollars worth of taxable property, or 13 mills) is approved; such increase of 13 mills to be levied and collected by the governing body of City of Mountain Brook for each year without limit as to duration, beginning with the levy in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-351.01.htm - 2K - Match Info - Similar pages
40-18-8.1
Section 40-18-8.1 Gain or loss - Recognition of gains invested in opportunity zones. (a) A qualified employee's gain shall not be recognized upon the disposition of his or her ownership interest in a qualified entity, and a qualified investment fund's gain shall not be recognized upon the disposition of the fund's ownership interest in a qualified entity. (b) Subsection (a) shall be applied as to each of the following taxes: (1) The income tax levied by this chapter, or the estimated income tax payment; and (2) The financial institution excise tax found in Chapter 16. (c) The following terms shall have the following meanings: (1) A company is anyone or anything with the powers to conduct a lawful business. (2) The disposition date is the date on which an ownership interest in a qualified entity is sold or otherwise disposed of, triggering a capital gain. (3) A qualified entity is any company which meets all of the following: a. As of August 5, 2019, Alabama is not the company's...
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40-26B-60
Section 40-26B-60 Definitions. (a) For the purposes of this article the following words have the following meanings unless the context clearly indicates otherwise: (1) DISPROPORTIONATE SHARE HOSPITAL. A hospital meeting the requirements of Section 1923 of the Social Security Act and other criteria adopted by the Alabama Medicaid Agency in its state plan for medical assistance under Title XIX of the Social Security Act. (2) FISCAL YEAR. An accounting period of 12 months beginning on the first day of the first month of the state fiscal year. (3) HOSPITAL. A facility, which is licensed as a hospital under the laws of the State of Alabama, provides 24-hour nursing services, and is primarily engaged in providing, by or under the supervision of doctors of medicine or osteopathy, inpatient services for the diagnosis, treatment, and care or rehabilitation of persons who are sick, injured, or disabled. (4) PUBLICLY-OWNED HOSPITAL. A hospital created and operating under the authority of a...
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40-9D-4
Section 40-9D-4 Enhancement of abatements and capital credits. (a) For the entities that qualify under this chapter, an abatement shall be allowed for ad valorem taxes. Such abatement shall follow the provisions and definitions of Chapter 9B of this title with the following exceptions: (1) The maximum exemption period as provided in subdivision (10) of Section 40-9B-3 shall be 20 years. (2) This abatement shall apply to real property located at other Alabama project sites built, owned, and operated by the qualifying entity as a component of the qualifying project. Such abatement shall be made pursuant to the provisions of the granting authority where the ancillary property is located. (3) This abatement shall apply to the qualifying entity's tangible personal property located at other Alabama project sites if the property is a component of the qualifying project. Such abatement shall be made pursuant to the provisions of the granting authority where the ancillary property is located....
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45-7-241
Section 45-7-241 Levy of tax; disposition of funds; construction with state sales tax statutes. (a) The following words, terms, and phrases as used in this section shall have the following respective meanings except where the context clearly indicates a different meaning: (1) "Commissioner" means the Commissioner of Revenue of the State. (2) "County" means Butler County in the State of Alabama. (3) "Fiscal Year" means the period commencing on October 1 of each calendar year and ending on September 30 of the next succeeding calendar year. (4) "Month" means a calendar month. (5) "Quarterly Period" means the period of three months ending on the last of each March, June, September, and December. (6) "Registered Seller" means the person registered with the State Department of Revenue pursuant to the state use tax statutes or licenses under the state sales tax statutes. (7) "State" means the State of Alabama. (8) "State Department of Revenue" means the Department of Revenue of the State. (9)...
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10A-10-1.21
Section 10A-10-1.21 Income tax. (a) A real estate investment trust shall be subject to the tax imposed by Section 40-18-31, provided, that for purposes of Section 40-18-33, the "net income" of a real estate investment trust shall mean "real estate investment trust taxable income" as defined in 26 U.S.C. Section 857 as in effect from time to time. (b) Solely for purposes of conforming federal law with Alabama law, the "net income" of a real estate investment trust determined pursuant to subsection (a) shall be further adjusted as follows: (1) The deduction for intercorporate dividends received under Section 40-18-35(a) (7), shall not be allowed. (2) The deduction for dividends paid, as defined in 26 U.S.C. Section 561, shall be allowed but (i) shall be computed without regard to that portion of the deduction which is attributable to the amount equal to the net income from foreclosure property as defined in 26 U.S.C. Section 857, and (ii) shall be limited by the provisions of Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-10-1.21.htm - 3K - Match Info - Similar pages
45-11-242
Section 45-11-242 Levy and collection of tax; disposition of funds. (a) In Chilton County, in addition to any and all other taxes heretofore or hereafter levied, the Chilton County Commission is hereby authorized to levy an ad valorem tax, not to exceed five mills, on each dollar of taxable property effective upon ratification by the qualified electors, at a referendum called for the purpose, within 90 days after June 11, 1987. (b) The county commission shall collect the ad valorem taxes in the same manner and at the same period, as are all other existing ad valorem taxes, on a pro rata basis of the period the tax has been effective on October 1, 1987, and then each year thereafter. (c) The county commission shall deposit the net tax revenues in the county general fund with one mill earmarked for law enforcement within the county. One-half mill shall be earmarked for the purposes of public health, indigent health care, and disease prevention. One-half mill shall be earmarked for...
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40-15-7
Section 40-15-7 Nonresident decedents. (a) Except as herein otherwise provided, all of the provisions of this chapter shall be applicable to so much of the estates of nonresident decedents as is subject to estate tax under the act of Congress in effect at the time of the death of decedent as consists of real estate or tangible personal property located within this state or other items of property or interest therein lawfully subject to the imposition of an estate tax by the State of Alabama. (b) In assessing the tax upon any real estate or tangible property located within this state belonging to the estate of a nonresident decedent, which shall pass by will, devise or by the laws of intestacy, the Department of Revenue shall determine the tax due to be such proportion of the federal estate tax as would be leviable upon an estate of similar taxable net value, less that proportion of any exemption to which the estate is entitled, which the actual value of the real estate and tangible...
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40-16-1.2
Section 40-16-1.2 Additional items included in federal taxable income; items deducted from federal taxable income. (a) The following items shall be added to federal taxable income for purposes of computing net income under this chapter: (1) The tax due under this chapter that is deducted in computing federal taxable income. (2) State and local taxes that are deducted for purposes of calculating federal taxable income for which a credit is claimed under Section 40-16-8, to the extent the credit is utilized to reduce the tax owed under this chapter. (3) Refunds of federal income taxes deducted in prior tax periods for purposes of computing the tax due under this chapter. (4) Dividends received from a corporation in which the taxpayer owns less than 20 percent of the stock, by vote and value, but only to the extent the dividends are properly deducted in computing taxable income for federal income tax purposes. (5) State, county, and municipal interest income from loans and securities that...
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40-18-73
Section 40-18-73 Withholding certificates. (a) Every employee, on or before the date of commencement of employment, shall furnish his or her employer with a signed Alabama withholding exemption certificate relating to the number of withholding exemptions which he or she claims, which in no event shall exceed the number to which the employee is entitled. In the event the employee inflates the number of exemptions allowed by this Chapter on Form A-4, the employee shall pay a penalty of five hundred dollars ($500) for such action pursuant to Section 40-29-75. (b) Due to the fact that the federal exemptions differ significantly from Alabama law, federal Form W-4 is not an acceptable filing under this section; rather Alabama Form A-4 must be utilized to comply with this section. The Department of Revenue may provide downloadable withholding forms in English and other languages on the department website. (c) In the event the employee fails to furnish the employer a signed Alabama Form A-4,...
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