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40-9B-4
Section 40-9B-4 Authorization of abatement. (a) Noneducational ad valorem taxes, construction
related transaction taxes, except those local construction related transaction taxes levied
for educational purposes or for capital improvements for education, and mortgage and recording
taxes, or payments required to be made in lieu thereof, and in the case of a qualifying industrial
or research enterprise described in Section 40-9B-3(a)(10)e. which is owned by an entity organized
under Chapter 6 of Title 37, or by an authority both organized and existing pursuant to Chapter
50A of Title 11, and subject to the payments required to be made in lieu of ad valorem, sales,
use, license, and severance taxes imposed by Section 11-50A-7, in addition to the foregoing,
all other ad valorem taxes, or payments required to be made in lieu thereof, imposed by the
state, counties, municipalities, and other taxing jurisdictions of Alabama, may be abated
with respect to private use industrial property and...
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40-18-164
Section 40-18-164 Increase or decrease in basis of shareholder's stock; special rules. (a)
The basis of each shareholder's stock in an Alabama S corporation shall be increased for any
period by the sum of the following items determined with respect to that shareholder for the
period: (1) The items of income described in subdivision (1) of subsection (a) of Section
40-18-162. (2) Any nonseparately computed income determined under subdivision (2) of subsection
(a) of Section 40-18-162. (3) The excess of the deductions for depletion over the basis of
the property subject to depletion. (b) The basis of each shareholder's stock in an Alabama
S corporation shall be decreased for any period, but not below zero, by the sum of the following
items determined with respect to the shareholder for the period: (1) Distributions by the
corporation which were not includable in the income of the shareholder by reason of Section
40-18-165. (2) The items of loss and deduction described in subdivision (1)...
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45-41-244.23
Section 45-41-244.23 Quarterly returns. Every registered seller making sales of tangible personal
property for storage, use, or other consumption in that part of Lee County outside the corporate
limits of the Cities of Auburn, Opelika, and Phenix City, which storage, use, or other consumption
is not exempted from the tax imposed, shall at the time of making such sale, or, if the storage,
use, or other consumption of such tangible personal property in such part of Lee County is
not then taxable under this subpart, at the time such storage, use, or other consumption becomes
taxable hereunder, collect the tax from the purchaser, and shall give to the purchaser a receipt
therefor in the manner and form prescribed by the Department of Revenue. On the 20th day of
the month following the close of each quarterly period provided for in Section 45-41-244.22,
each registered seller shall file with the Department of Revenue a return for the preceding
quarterly period in such form as may be...
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40-18-27
Section 40-18-27 Individual taxpayer's returns; liability of innocent spouse. (a) Every taxpayer
having gross income before the deductions allowed by this chapter for the taxable year exceeding
the sum of the allowable standard deduction as provided in Section 40-18-15 and the personal
exemption as provided in Section 40-18-19, as allowed for his or her respective filing status,
shall each year file with the Department of Revenue a return stating specifically the items
of gross income, the deductions and credits allowed by this chapter, the place of residence,
and post office address. (b) A taxpayer other than a resident shall not be entitled to the
deductions authorized by Sections 40-18-15 and 40-18-15.2 unless the taxpayer files a complete
return showing the gross income of the taxpayer both from within and outside the state. Included
on every income tax return shall be the name, address, and Social Security number or preparer
taxpayer identification number of the person who...
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7-4-111
Section 7-4-111 Statute of limitations; accrual of action. An action to enforce an obligation,
duty, or right arising under this article must be commenced within three years after the cause
of action accrues. A cause of action accrues for payment of a time deposit upon the earlier
of: (1) the date demand for payment is made to the bank, but if the time deposit has a due
date and the bank is not required to pay before that date, the cause of action accrues when
a demand for payment is in effect and the due date has passed; (2) the latter of: a. the due
date of the time deposit established in the bank's last written notice of renewal sent pursuant
to Section 5-5A-36; or b. four years after the last written communication from the bank recognizing
the bank's obligation under the time deposit; or (3) the last day of the taxable year for
which the owner of the time deposit last reported interest income earned on the time deposit
on either a federal or state tax return. As used in this...
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40-15B-2
Section 40-15B-2 Definitions. In this chapter: (1) "Apportionable estate" means the
value of the gross estate as finally determined for purposes of the estate tax to be apportioned
reduced by: (A) any claim or expense allowable as a deduction for purposes of the tax; (B)
the value of any interest in property that, for purposes of the tax, qualifies for a marital
or charitable deduction or otherwise is deductible or is exempt; and (C) any amount added
to the decedent's gross estate because of a gift tax on transfers made before death. (2) "Estate
tax" means a federal, state, or foreign tax imposed because of the death of an individual
and interest and penalties associated with the tax. The term does not include an inheritance
tax, income tax, or generation-skipping transfer tax other than a generation-skipping transfer
tax incurred on a direct skip taking effect at death. (3) "Gross estate" means,
with respect to an estate tax, all interests in property subject to the tax. (4) "Person"...
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40-18-8
Section 40-18-8 Gain or loss - Recognition. (a) General rule. Except as provided in this section,
upon the sale or exchange of property, the entire amount of the gain or loss determined under
Section 40-18-7 shall be recognized. (b) Exchange of stock for stock of same corporation.
No gain or loss shall be recognized if common stock in a corporation is exchanged solely for
common stock in the same corporation, or if preferred stock in a corporation is exchanged
solely for preferred stock in the same corporation. (c) Like-kind exchanges. If an exchange
of property satisfies the requirements of 26 U.S.C. § 1031, relating to like-kind exchanges,
then the amount of gain or loss recognized in the exchange shall be determined in accordance
with 26 U.S.C. § 1031. (d) Involuntary conversions. If a taxpayer validly elects to determine
the amount of gain recognized for federal income tax purposes under 26 U.S.C. § 1033, relating
to involuntary conversions, the amount of gain recognized shall...
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40-16-1.3
Section 40-16-1.3 Net income of credit unions. (a) With respect to credit unions only, net
income means financial statement income which is the final net income amount, total revenue
less total expenses, calculated for financial statement purposes and reported to the Internal
Revenue Service as a tax exempt organization and to the Alabama Credit Union Administration
or other government regulatory authority as appropriate, less the subtractions specified in
subsection (b) and as allocated and apportioned to Alabama according to rules adopted by the
Department of Revenue pursuant to Section 40-16-4. (b) Subtractions. The following items shall
be subtracted from financial statement income for purposes of computing the net income of
a credit union under this chapter: (1) Dividends received from other credit unions and credit
union service organizations as defined by federal law and the regulations of the National
Credit Union Administration. (2) In lieu of deductions for losses or bad...
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40-17-346
Section 40-17-346 Monthly exporter returns. (a) A person who is licensed as an exporter shall
file monthly returns with the department on forms prescribed and furnished by the department
concerning the amount of taxable motor fuel exported from this state. (b) The report must
contain all of the following information with respect to motor fuel other than diesel fuel
dyed in accordance with the Internal Revenue Code: (1) All shipments of taxable motor fuel
removed from a terminal in this state as to which the tax imposed by this article previously
was paid or accrued for direct delivery outside of this state by the exporter. (2) All shipments
of taxable motor fuel acquired free of this state's motor fuel tax at a terminal in this state
for direct delivery outside of Alabama but as to which the destination state's motor fuel
tax was paid or accrued to the supplier at the time of removal from the terminal. (3) The
gallons delivered to taxing jurisdictions outside this state out of bulk...
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40-9C-4
Section 40-9C-4 Authorization of abatement. (a) Noneducational ad valorem taxes, construction
related noneducation transaction taxes, except those construction related transaction taxes
levied for educational purposes or for capital improvements for education, and mortgage and
recording taxes may be abated with respect to brownfield development property and security
documents and other recordable documents associated therewith as provided in this chapter.
(b) No abatement of noneducational ad valorem taxes may exceed the maximum exemption period
of 20 years. No further abatement with respect to the same brownfield development property
may be granted unless there is a major addition to the property, in which event abatement
may be granted only with respect to the noneducational ad valorem taxes on the major addition
by complying with the procedures set forth in this chapter. (c) An abatement of construction
related noneducation transaction taxes shall apply only to tangible personal...
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