|
40-21-4
Section 40-21-4 Detailed requirements of reports. Each such report shall show the following
items and particulars as the same stood on the next preceding October 1, together with any
other facts or information that may be called for by said Department of Revenue: (1) The name
and principal place of business of the company, corporation, association, or individual in
whose behalf the statement is made and the character of the business engaged in; (2) If a
company, association or corporation, the state, or government under the laws of which it was
incorporated or authorized to do business, the date of original organization, the date of
reorganization, consolidation, or merger and the purpose of its incorporation as expressed
in its charter or articles of association; (3) The place where all books, papers, and accounts
are kept, and the names and post-office addresses of the president, secretary, treasurer,
superintendent, general manager, general counsel, directors, and all other general...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-21-4.htm - 6K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-16-3.htm - 4K - Match Info - Similar pages
40-16-4
Section 40-16-4 Levy; reporting of tax; promulgation of rules. (a)(1) Every such financial
institution engaging in any of the following businesses: (i) Banking; (ii) Conducting the
business of a financial institution as defined in this chapter; (iii) Conducting a credit
card business through the issuance of credit cards to Alabama residents or businesses; or
(iv) Conducting a business employing moneyed capital coming into competition with the business
of national banks shall pay to the state annually for each taxable year an excise tax measured
by its net income allocated and apportioned for the taxable year at the rate of six and one-half
percent of the net income. (2) For purposes of the excise tax imposed by this chapter, any
financial institution which has income from business activity that is taxable both within
and without this state shall allocate and apportion its net income as provided in rules which
shall be prescribed by the Department of Revenue, provided that such rules...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-16-4.htm - 4K - Match Info - Similar pages
40-18-15.4
Section 40-18-15.4 Deductions for certain retrofitting or upgrades to homes - Residence
in Alabama Insurance Underwriting Association zone. (a) An individual taxpayer, whose legal
residence is located in an Alabama Insurance Underwriting Association zone pursuant to Section
27-1-17, shall be allowed a deduction from taxable income, regardless of whether the taxpayer
itemizes his or her income tax deductions, in calculating the income tax imposed pursuant
to Section 40-18-5, for certain retrofit costs as described in this section.
The deduction shall be allowed for the costs incurred to retrofit, as specified in Section
27-31D-2, a structure qualifying as the legal residence of a taxpayer to make the residence
more resistant to loss due to a hurricane, tornado, or other catastrophic windstorm event.
(b) In order to qualify for the state income tax deduction allowed pursuant to this section,
the costs may not include ordinary repair or replacement of existing items, and shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-15.4.htm - 2K - Match Info - Similar pages
16-60-351
Section 16-60-351 Credit for qualifying education expenses. (a)(1) For tax years commencing
January 1, 2015, and thereafter, a taxpayer who files a state income tax return and is not
a dependent of another taxpayer may claim a tax credit for a contribution made to the Department
of Postsecondary Education for qualifying educational expenses directly associated with the
Career-Technical Dual Enrollment Program as defined by State Board of Education policy. (2)
The tax credit may be claimed by the taxpayer in an amount equal to 50 percent of the total
contribution or contributions made to the Department of Postsecondary Education during the
taxable year for which the credit is claimed, but such credit is not to exceed an amount greater
than 50 percent of the taxpayer's total Alabama income tax liability, and in no case more
than five hundred thousand dollars ($500,000) for any given tax year. (3) The cumulative amount
of tax credits issued pursuant this article shall not exceed five...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-60-351.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-16-1.2.htm - 3K - Match Info - Similar pages
40-18-166
Section 40-18-166 "Accumulated adjustments account" defined; application generally;
"S period" defined; applicability of subdivision (c)(1) of Section 40-18-165
to certain distributions; "affected shareholder" defined. (a)(1) Except as provided
in subsection (b), for purposes of this article, the term "accumulated adjustments account"
means an account of the Alabama S corporation which is adjusted for the S period in a manner
similar to the adjustments under Section 40-18-164 hereof including subdivision (4)
of subsection (c), except that no adjustment shall be made for income and related expenses
which are exempt from tax under this chapter and the phrase "but not below zero"
shall be disregarded in Section 40-18-164(c)(2)a. (2) In the case of any redemption
which is treated as an exchange under Section 40-18-36, the adjustment in the accumulated
adjustments account shall be an amount which bears the same ratio to the balance in the account
as the number of shares redeemed in such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-166.htm - 2K - Match Info - Similar pages
10A-20-10.01
Section 10A-20-10.01 Restrictions; powers of courts and Attorney General not impaired.
(a) Notwithstanding any provision to the contrary in the certificate of formation, other governing
instrument, or under any other law of this state, and except as otherwise provided by court
order, or by a provision in the certificate of formation or other governing instrument, which
in either case is entered or made after August 11, 1971, and expressly limits the applicability
of this section, a corporation which is, or is treated as, a private foundation, as
defined in Section 509 of the Internal Revenue Code of 1986, as amended, during the
period it is, or is treated as, a private foundation: (1) Shall not engage in any act of self-dealing
as defined in Section 4941 (d) thereof; (2) Shall distribute, for the purposes specified
in its certificate of formation, for each taxable year not less than the amounts at the time
and in the manner as not to become subject to the tax on undistributed income...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-10.01.htm - 2K - Match Info - Similar pages
19-3-125
Section 19-3-125 Life, endowment, or annuity contracts. In addition to any other investment
now permitted by law, a guardian or trustee may invest the funds of his ward or of the beneficiary
of the trust in life, endowment or annuity contracts of legal reserve life insurance companies
duly qualified and authorized to write such business in the State of Alabama; provided, however,
that the annual premium or premiums on such contracts purchased by such guardian or trustee
shall not exceed 25 percent of the income of the ward or the beneficiary for any calendar
year preceding the date of such purchase. The contract must contain the following options
after it has been in force for three years or less: a cash surrender value option, a paid-up
insurance or endowment option, and an extended insurance or endowment option. Such contract
may be issued on the life or lives of the ward or wards, or beneficiary or beneficiaries of
the trust or upon the life or lives of persons in whose life or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3-125.htm - 2K - Match Info - Similar pages
22-23B-2
Section 22-23B-2 Definitions. The following words and phrases, whenever used in this
chapter, shall have the following respective meanings unless the context clearly indicates
otherwise: AUTHORITY. The corporation organized pursuant to the provisions of this chapter
as a public corporation, agency and instrumentality of the state and known as the "Alabama
Drinking Water Finance Authority." AUTHORIZING RESOLUTION. A resolution, order or other
proceedings adopted by the board of directors of the authority authorizing the issuance of
bonds, agreements and related matters. BOARD OF DIRECTORS. The board of directors of the authority.
BOND PROCEEDS. The net proceeds of sale of bonds or notes, and the income derived from the
investment of such proceeds. BONDS. The bonds, notes or obligations or other evidences of
indebtedness issued by the authority under the provisions of this chapter. DEPARTMENT. The
Alabama Department of Environmental Management or any successor. FEDERAL ACT. The Act of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-23B-2.htm - 6K - Match Info - Similar pages
|