40-9F-31
Section 40-9F-31 Definitions. As used in this article, the following terms shall have the following meanings: (1) CERTIFIED HISTORIC STRUCTURE. A property located in Alabama which is at least sixty years old, unless the structure is an historic structure located within the boundaries of a National Monument or Park as declared by the United States Congress or the President of the United States, in which case the federal age provisions shall apply, and is certified by the Alabama Historical Commission as being individually listed in the National Register of Historic Places, eligible for listing in the National Register of Historic Places, or certified by the commission as contributing to the historic significance of a Registered Historic District. (2) CERTIFIED REHABILITATION. Repairs or alterations to a certified historic structure that is certified by the commission as meeting the U.S. Secretary of the Interior's Standards for Rehabilitation which meet the requirements contained in...
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37-11C-3
Section 37-11C-3 Standards for approval of qualified railroad rehabilitation expenditures; application for tax credits; completion of project; tax credit certificate; fees; annual report. (a) By December 1, 2019, the Department of Commerce shall develop standards for the approval of qualified railroad rehabilitation expenditures for which a tax credit is being sought. The standards shall consider the availability of additional public or private funding for the project, the expected completion time of the project, and the anticipated impact of the project on usage of the railroad infrastructure. (b) Prior to beginning any qualified railroad rehabilitation work, the eligible taxpayer shall submit an application and rehabilitation plan to the department and an estimate of the qualified railroad rehabilitation expenditures under the rehabilitation plan; provided, however, the eligible taxpayer, at its own risk, may incur qualified railroad rehabilitation expenditures no earlier than six...
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40-18-392
Section 40-18-392 (Tax credit expires January 1, 2019, per subsection (g)). Qualifications for and applicability of tax credit. (a) An Alabama small business tax credit is hereby allowed for any Alabama small business employer that creates a new job and hires a new full-time employee to fill that job. The credit shall be a one-time credit equal to one thousand five hundred dollars ($1,500) for each qualified new employee, and shall only be applicable to a tax year in which the new employee has completed 12 months of consecutive full-time employment with the employer. (b) To qualify for the credit, the employer must have a net employee growth as of the last date of each tax year during which the employer claims a credit pursuant to this article. The net employee growth must equal or exceed the number of qualified new employees for which a credit is sought in the current or applicable tax year, plus the total number of qualified new employees for whom credits were claimed pursuant to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-392.htm - 3K - 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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2-3A-2
Section 2-3A-2 Definitions. The following words and phrases used in this article, and others evidently intended as the equivalent thereof, shall, in the absence of clear implication herein otherwise, be given the following respective interpretations herein: (1) AFFILIATE. With respect to any lender, any person, firm or corporation controlled by, or under common control with, such lender, and any person, firm or corporation controlling such lender. (2) AGRICULTURAL OPERATIONS. Farming, ranching, the production of agricultural commodities (including, without limitation, the products of aquaculture and silvaculture) or the treating, processing, storing, manufacturing, marketing, distribution or exporting of agricultural commodities; provided, however, that such term shall not include any operation the principal purpose of which is the selling at retail of agricultural commodities or related products; provided, further, that costs of agricultural operations shall specifically include, but...
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27-41-27
Section 27-41-27 Particular investments - Securities, etc., of foreign countries. (a) An insurer may invest in securities or other investments (1) issued in, (2) located in, (3) denominated in the currency of, (4) whose ultimate payment amounts of principal or interest are subject to fluctuations in the currency of, or (5) whose obligors are domiciled in countries other than the United States or Canada, which are substantially of the same kinds and classes as those authorized for investment under this chapter. (b) Subject to the limitations in subsection (c): (1) An investment of an insurer authorized under subsection (a) in any one foreign jurisdiction whose sovereign debt has a 1 designation from the Securities Valuation Office shall not exceed 10 percent of the admitted assets of the insurer. (2) An investment of an insurer authorized under subsection (a) in any one foreign jurisdiction whose sovereign debt has a 2 or 3 designation from the Securities Valuation Office may not exceed...
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40-18-376.1
Section 40-18-376.1 Projects in targeted or jumpstart counties. (a) As used in this section, the following terms shall have the following meaning: (1) JUMP START COUNTY. Any Alabama county which meets all the following: a. That does not qualify as a targeted county. b. That has experienced negative population growth over the last five years as determined by the Commissioner of Labor as of each January 1 using the most current data available from the United States Departments of Labor or Commerce, the United States Bureau of the Census, or any other federal or state agency or department. c. Contains no more than two opportunity zones as they existed on June 1, 2019. (2) TARGETED COUNTY. Any Alabama county that has a population of 50,000 or less, as determined by the Commissioner of Labor as of each January 1 using the most current data available from the United States Departments of Labor or Commerce, the United States Bureau of the Census, or any other federal or state agency or...
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41-1-60
Section 41-1-60 Acceptance of credit card payment. (a) Notwithstanding any other provision of law to the contrary, any officer or unit of state government required or authorized to receive or collect any payments to state government may accept a credit card payment of the amount that is due. This section shall only apply to departments, agencies, boards, bureaus, commissions, and authorities which are units of state government, and shall not apply to any departments, agencies, boards, bureaus, commissions, or authorities which are units of county or municipal government and come under the provisions of Chapter 103 of Title 11. (b) This section shall be broadly construed to authorize acceptance of credit card payments by: (1) All departments, agencies, boards, bureaus, commissions, authorities, and other units of state government. (2) All officers, officials, employees, and agents of the state and units of state government. (c) This section shall be broadly construed to authorize...
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41-23-24
Section 41-23-24 Tax incentives; adoption of rules to implement tax credits and incentives; maximum tax credit per new permanent employee; application of tax credits; tax credits are in addition to exemptions and credits under Chapter 18 of Title 40; no credits for taxes to other states. (a) Any provisions of Title 40, Chapter 18, notwithstanding, and specifically any provisions of Sections 40-18-22, 40-18-35, 40-18-35.1, 40-18-37 and 40-18-38, to the contrary notwithstanding, the following tax incentives may be available to any business, industry or manufacturer who complies with the provisions of this article: (1) INCOME TAX CREDIT. There may be a five-year credit of varying proportions of taxes due from zone operations: first year, 80 percent; second year, 60 percent; third year, 40 percent; fourth and fifth years, 20 percent. This credit is available for corporations, partnerships, and proprietorships provided that 30 percent of the new permanent employees were formerly unemployed...
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41-9-219.3
Section 41-9-219.3 Application for designation as a qualified equity investment. (a) A qualified community development entity that seeks to have an equity investment or long-term debt security designated as a qualified equity investment and eligible for tax credits under this article shall apply to the department. The qualified community development entity shall submit an application on a form that the department provides that includes all of the following: (1) The name, address, tax identification number of the entity, and evidence of the entity's certification as a qualified community development entity. (2) A copy of any allocation agreement executed by the entity, or its controlling entity, and the Community Development Financial Institutions Fund. (3) A certificate executed by an executive officer of the entity attesting that the allocation agreement remains in effect and has not been revoked or cancelled by the Community Development Financial Institutions Fund. (4) A description...
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