|
41-9-219.5
Section 41-9-219.5 Report. (a) On or before the 30th day prior to the third and sixth anniversaries
of the issuance of each qualified equity investment, the issuer of such qualified equity investment
shall submit a report on a form that the department provides that includes all of the following:
(1) The name, address, and tax identification number of the issuer. (2) The name, address,
and tax identification number of any qualified active low-income community businesses in which
the qualified community development has made qualified low-income community investments. (3)
A certificate executed by an executive officer of the issuer attesting to the number of qualified
jobs and corresponding payroll created at the qualified active low-income community business,
the average of the salaries of such jobs, and the date each job was created and, if applicable,
terminated. (4) A certificate executed by an executive officer of the issuer attesting to
all of the following: a. The value of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-219.5.htm - 2K - 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
40-16-10
Section 40-16-10 Computation of net income of financial institutions. (a) In computing the
net income of financial institutions subject to the tax imposed by this chapter, there shall
be allowed, in addition to the deductions specified therein, a deduction for the sum of the
net operating losses which may be carried forward to the taxable year for which the net income
of the financial institution is being computed. (1) The term "net operating loss"
for the purposes of this chapter means the amount by which net income of the financial institution,
before the deduction allowed by this section, with respect to a taxable year is less than
zero. For purposes of this section, the financial institution's net income shall be determined
under this chapter applicable to the year in which the net operating loss arises. (2) A net
operating loss shall be carried forward to the earliest subsequent taxable year in which the
financial institution has net income greater than zero, determined without...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-16-10.htm - 4K - Match Info - Similar pages
41-9-218
Section 41-9-218 Definitions. As used in this article, the following terms shall have the following
meanings: (1) APPLICABLE PERCENTAGE. Zero percent for the first credit allowance date, 8.33
percent for the next six credit allowance dates, for the total of 50 percent. (2) CREDIT ALLOWANCE
DATE. With respect to any qualified equity investment, the date on which such investment is
initially made and each of the six anniversary dates of that date thereafter. (3) DEPARTMENT.
The Department of Commerce. (4) LONG-TERM DEBT SECURITY. Any debt instrument issued by a qualified
community development entity, at par value or a premium, with an original maturity date of
at least seven years from the date of its issuance, with no acceleration of repayment, amortization,
or prepayment features prior to its original maturity date. The qualified community development
entity that issues the debt instrument may not make cash interest payments on the debt instrument
during the period beginning on the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-218.htm - 5K - Match Info - Similar pages
19-3A-401
Section 19-3A-401 Character of receipts. (a) For purposes of this section, "entity"
means a corporation, partnership, limited liability company, regulated investment company,
real estate investment trust, common trust fund, or any other organization in which a fiduciary
has an interest other than (1) a trust or decedent's estate to which Section 19-3A-402 applies,
(2) a business or activity to which Section 19-3A-403 applies, or (3) an asset-backed security
to which Section 19-3A-415 applies. (b) Except as otherwise provided in this section, a fiduciary
shall allocate to income money received from an entity. (c) A fiduciary shall allocate the
following receipts from an entity to principal: (1) Property other than money except in cases
when the fiduciary has the choice to receive dividends or similar payments either in cash
or in the shares or similar ownership interests of the corporation or other business entity,
in which case, the fiduciary shall allocate the receipts to income; (2)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-401.htm - 2K - Match Info - Similar pages
40-18-25
Section 40-18-25 Estates and trusts. (a) For purposes of this chapter, the income and deductions,
including the distribution deduction, of estates and trusts shall be determined in accordance
with Subchapter J of Chapter 1 of Subtitle A of the Internal Revenue Code, 26 U.S.C. §641
et seq., relating to estates, trusts, beneficiaries, and decedents, except as otherwise provided
in this section. (1) The income and deductions shall be increased by any items that are includable
or deductible by an individual in computing Alabama income tax but are not includable or not
deductible by an individual in computing federal income tax. (2) The income and deductions
shall be decreased by any items that are not includable or not deductible by an individual
in computing Alabama income tax but are includable or deductible by an individual in computing
federal income tax. (b) For purposes of this chapter, the income and deductions of beneficiaries
of estates and trusts, and persons who are treated as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-25.htm - 6K - Match Info - Similar pages
10A-10-1.23
Section 10A-10-1.23 Treatment of corporate real estate investment trust. A domestic or foreign
corporation or any "qualified REIT subsidiary" of the domestic or foreign corporation
as defined in 26 U.S.C. Section 856(i), otherwise in compliance with the provisions of Chapters
1 and 2, that elects to be treated as a real estate investment trust under 26 U.S.C. Section
856, as amended from time to time, shall compute its Alabama income tax in accordance with
Section 10A-10-1.21. (Acts 1995, No. 95-628, p. 1317, §23; §10-13-23; amended and renumbered
by Act 2009-513, p. 967, §310.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-10-1.23.htm - 905 bytes - Match Info - Similar pages
38-14-1
Section 38-14-1 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) DEPARTMENT. The Department of Human Resources. (2) ELIGIBLE INDIVIDUAL or FAMILY
MEMBER. A person whose household income is equal to or less than 80 percent of the median
household income for the state or less than 200 percent of the federal poverty guidelines,
whichever is greater. (3) EMERGENCY. Payments for necessary medical expenses of the account
owner or family member, expenses to avoid the eviction of the account owner from the account
owner's primary residence, and for necessary living expenses following a loss of income (4)
FIDUCIARY ORGANIZATION. Any nonprofit, fund-raising organization that is exempt from taxation
under Section 501(c)(3) of the Internal Revenue Code, as amended; any certified community
development financial institution; any credit union chartered under federal or state law;
or any Indian tribe as defined in Section 4(12) of the Native American...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/38-14-1.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-14A-24.htm - 8K - Match Info - Similar pages
40-18-15
Section 40-18-15 Deductions for individuals generally. (a) No deduction shall be allowed for
any losses, expenses, or interest deferred or disallowed pursuant to 26 U.S.C. § 267 or for
any cost required to be capitalized in accordance with 26 U.S.C. § 263A; otherwise, there
shall be allowed as deductions: (1) All ordinary and necessary expenses paid or incurred during
the taxable year in carrying on any trade or business, as determined in accordance with 26
U.S.C. § 162. (2) Interest paid or accrued within the taxable year on indebtedness, limited
to the amount allowable as an interest deduction for federal income tax purposes in the corresponding
tax year or period pursuant to the provisions of 26 U.S.C. §§ 163, 264, and 265. (3) The
following taxes paid or accrued within the taxable year: a. Income taxes, Federal Insurance
Contribution Act taxes, taxes on self-employment income and estate and gift taxes imposed
by authority of the United States or any possession of the United...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-15.htm - 18K - Match Info - Similar pages
|