38-14-6
Section 38-14-6 Source of deposits; limitations on deposits. (a) Deposits to individual
development accounts made by the account owner shall come from earned income, including, but
not limited to, wages, earned income tax credit returns, child support payments, supplemental
security income (SSI), disability benefits, community service under TANF, AmeriCorps stipends,
VISTA stipends, and job training programs. (b) Eligible individuals shall certify that their
deposits do not exceed their income. A cap on deposits made by the account owner is set at
two thousand dollars ($2,000). (Act 2011-641, p. 1626, §6.)...
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38-14-7
Section 38-14-7 Exclusion from gross income. Money deposited into individual development
accounts shall not be included in gross income for income tax purposes. Any amount withdrawn
from a parallel account, matching funds, may not be includable in an eligible individual's
gross income. Money withdrawn from an individual development account shall only be included
in gross income if used for a purpose other than a qualified purpose. (Act 2011-641, p. 1626,
§7.)...
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38-14-10
Section 38-14-10 Eligibility for means-tested public benefits. (a) An account owner's
savings and matching funds shall not affect his or her eligibility for any means-tested public
benefits, including, but not limited to, Medicaid, state children's health insurance programs,
TANF, Supplemental Nutrition Assistance Program, supplemental security income, or government-subsidized
foster care and adoption payments, and child care or housing payments. (b) Funds deposited
in individual development accounts shall not be counted as income, assets, or resources of
the account owner for the purpose of determining financial eligibility for assistance or service
pursuant to any federal, federally assisted, state, or municipal program based on need. (Act
2011-641, p. 1626, §10.)...
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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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41-9-80.2
Section 41-9-80.2 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019
REGULAR SESSION, EFFECTIVE JUNE 10, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. As used
in this division, the following terms shall have the following meanings: (1) CONVICTED INDIVIDUAL.
An individual convicted of a specified crime or a representative of the individual. (2) EARNED
INCOME. Income derived from an individual's own labor or active participation in a business.
The term does not include income from dividends or investments. (3) FUNDS OF A CONVICTED INDIVIDUAL.
Funds and property received from any source by a convicted individual. The term includes funds
that a superintendent, sheriff, municipal official, or other correctional official receives
on behalf of a convicted individual and deposits into the individual's inmate or prisoner
account to the credit of the individual. The term does not include funds from child support
payments and earned income, except any income defined as profits...
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38-14-2
Section 38-14-2 Establishment of account. A person who is eligible to become an individual
development account owner may enter into an agreement developed with a fiduciary organization
for the establishment of an individual development account. The agreement shall provide for
the amount of the savings deposits, the match fund rate, the asset goal, and the financial
literacy classes to be completed, any additional training specific to the asset, and financial
counseling the individual will attend, as well as other services designed to increase the
independence of the person through the achievement of the account's approved purpose. (Act
2011-641, p. 1626, §2.)...
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40-2A-11
Section 40-2A-11 Civil penalties levied in addition to other penalties provided by law.
(a) Failure to timely file return. Except in the case of an individual income tax return filed
with no tax due at the time of filing, if a taxpayer fails to file any return required to
be filed with the department on or before the date prescribed therefor, determined with regard
to any extension of time for filing, there shall be assessed as a penalty the greater of 10
percent of any additional tax required to be paid with the return or fifty dollars ($50).
(b) Failure to timely pay tax. (1) If a taxpayer fails to pay to the department the amount
of tax shown as due on a return required to be filed on or before the date prescribed for
payment of the tax, determined with regard to any extension of time for payment, there shall
be added as a penalty one percent of the amount of the tax due if the failure to pay is for
not more than one month, with an additional one percent for each additional month or...
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5-24-1
Section 5-24-1 Definitions. In this chapter: (1) ACCOUNT means a contract of deposit
between a depositor and a financial institution, and includes a checking account, savings
account, time deposit, certificate of deposit, and share account. (2) AGENT means a person
authorized to make account transactions for a party. (3) BENEFICIARY means a person named
as one to whom sums on deposit in an account are payable on request after death of all parties
or for whom a party is named as trustee. (4) DEVISEE means any person designated in a will
to receive a testamentary disposition of real or personal property. (5) FINANCIAL INSTITUTION
means an organization authorized to do business under state or federal laws relating to financial
institutions, and includes a bank, trust company, savings bank, building and loan association,
savings and loan company or association, and credit union. (6) HEIRS means those persons,
including surviving spouse, who are entitled under the statutes of intestate...
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30-3-191
Section 30-3-191 Definitions. When used in Sections 30-3-191 to 30-3-199, inclusive,
the following words shall have the following meanings: (1) ACCOUNT. A demand deposit account,
checking or negotiable withdrawal order account, savings account, time deposit account, or
money-market mutual fund account. (2) BUSINESS DAY. A day on which state offices are open
for regular business. (3) COMMERCIAL DRIVER LICENSE. A license issued to an individual that
authorizes the individual to drive a motor vehicle as part of conducting business. (4) CONFIDENTIAL
INFORMATION. Information provided by a service applicant or recipient or obtained from other
sources about him or her which may be released only as required by court order or state or
federal law. (5) COURT. A court of competent jurisdiction or administrative agency having
the authority to issue and enforce support orders. (6) DATA MATCH. An automated process of
matching specified information from the financial records of financial institutions...
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40-18-155
Section 40-18-155 Alabama Firefighters Annuity and Benefit Fund. (a) Each Alabama state
individual income tax return form for the 2010 tax year and each year thereafter shall contain
a designation as follows: "Alabama Firefighters Annuity and Benefit Fund. "Check
( ) if you wish to designate $2 or more of your state income tax refund. "If joint return,
check ( ) if spouse wishes to designate $2 or more." (b) Each individual taxpayer required
to file a state income tax return desiring to contribute to the Alabama Firefighters Annuity
and Benefit Fund, may designate, by placing an "X" in the appropriate box on the
state income tax form, that such contribution shall be credited to the foundation. (c) The
Department of Revenue shall determine annually the total amount designated pursuant to subsection
(b) for the fund and shall deposit such amount, less costs of administration not to exceed
three percent of revenue produced, to the fund. (d) The commissioner of the department is
authorized...
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