|
40-18-161
Section 40-18-161 Determination of taxable income. (a) The taxable income of an Alabama
S corporation shall be determined in the same manner as in the case of an individual except
that the items determined in subdivision (1), subsection (a) of Section 40-18-162 shall
be separately stated, and the following deductions shall not be allowed: (1) Personal exemptions
otherwise allowed by Section 40-18-19. (2) Charitable contributions otherwise allowed
by Section 40-18-15, subdivision (a)(10). (3) The net operating loss deduction otherwise
allowed by Section 40-18-15, subdivision (a)(16). (4) Medical expenses otherwise allowed
by Section 40-18-15, subdivision (a)(13). (5) Alimony otherwise allowed by Section
40-18-15, subdivision (a)(18). (6) The deduction for certain expenses of producing income
and determining taxes otherwise allowed by Section 40-18-15, subdivision (a)(14). (7)
Contributions to individual retirement accounts otherwise allowed by Section 40-18-15,
subdivision (a)(11). (8)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-161.htm - 4K - Match Info - Similar pages
40-18-176
Section 40-18-176 Nonresident shareholder composite returns. (a) The Department of Revenue
shall permit an Alabama S corporation to file composite returns and to make composite payments
on behalf of some or all of its nonresident shareholders if there are one or more nonresident
shareholders during any part of the taxable year. The Department of Revenue may permit composite
returns and payments to be made by an Alabama S corporation on behalf of its resident shareholders.
(b) For purposes of this section, a "composite return" means an informational
return similar in form to U.S. Treasury Department Schedule K-1 containing information concerning
one or more Alabama S corporation shareholder's respective shares of income, deductions and
losses passed through to them by virtue of their status as shareholders of an Alabama S corporation,
any credit to which the shareholder is entitled to claim by virtue of the Alabama S corporation's
payment of tax on his or her behalf pursuant to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-176.htm - 3K - Match Info - Similar pages
45-17-242.05
Section 45-17-242.05 Payment of tax; records; inspections; seizure and sale of contraband;
appraisal; return of confiscated property; re-use of stamps or refill of packages. (a) After
the tax herein authorized has been levied in accordance with the provisions of this part,
no person, firm, or corporation shall sell, store, or distribute tobacco or tobacco products,
which are subject to such tax, without complying with the provisions of this part and the
rules and regulations promulgated and adopted by the county governing body pursuant thereto,
and paying any and all tax which such person, firm, or corporation may be liable under this
part. Every person, firm, or corporation selling, storing, or distributing in Colbert County
any tobacco or tobacco products shall keep such books, documents, papers, and other such records
as will enable the county governing body, or an authorized employee thereof, to determine
the amount of the tax due the county under this part, and such records shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-17-242.05.htm - 9K - Match Info - Similar pages
40-18-80.1
Section 40-18-80.1 (Effective for tax years beginning after December 31, 2009) Payment
of estimated tax by corporations. (a) Corporations. Corporations shall pay estimated income
tax in accordance with 26 U.S.C. § 6655 except: The provisions of 26 U.S.C. § 6655(g)(1)(A)(ii)
through (iv) shall not apply. (b) For the purposes of this section: (1) Section
40-18-2 shall be substituted when 26 U.S.C. § 6655 refers to Chapter 1; (2) The terms alternative
minimum taxable income and modified alternative minimum taxable income referred to in 26 U.S.C.
§ 6655(e)(2)(B)(i) shall be ignored for Alabama purposes; (3) Section 40-18-31 shall
be substituted when 26 U.S.C. § 6655 refers to Section 11; (4) The terms 1201(a) and
subchapter L of Chapter 1 referred to in 26 U.S.C. § 6655(g)(1)(A)(i) shall be ignored for
Alabama purposes; (5) Sections 40-18-35(e), 40-18-136, 40-18-194, 40-18-220, 40-18-243, and
41-23-24 shall be substituted when 26 U.S.C. § 6655(g)(1)(B) refers to part IV of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-80.1.htm - 1K - Match Info - Similar pages
40-25-2
Section 40-25-2 Who is liable for tax; amount; local tax or fee. (a) In addition to
all other taxes of every kind now imposed by law, every person, firm, corporation, club, or
association, within the State of Alabama, who sells or stores or receives for the purpose
of distribution to any person, firm, corporation, club, or association within the State of
Alabama, cigars, cheroots, stogies, cigarettes, smoking tobacco, chewing tobacco, snuff, or
any substitute therefor, either or all, shall pay to the State of Alabama for state purposes
only a license or privilege tax which shall be measured by and graduated in accordance with
the volume of sales of such person, firm, corporation, club, or association in Alabama. There
is hereby levied license or privilege taxes on articles containing tobacco enumerated in this
article in the following amounts: (1) LITTLE CIGARS. Upon cigars of all descriptions, including
filtered cigars, made of tobacco, or any substitute therefor, and weighing not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-25-2.htm - 8K - Match Info - Similar pages
40-18-86
Section 40-18-86 Sale or transfer of real property and associated tangible property
by nonresidents. (a) As used in this section, the term nonresident of Alabama shall
include individuals, trusts, partnerships, corporations, and unincorporated organizations.
Any seller or transferor who meets all of the following conditions and who provides the buyer
or transferee with an affidavit signed under oath swearing or affirming that all of the following
conditions are met will be deemed a resident for purposes of this section: (1) The
seller or transferor has filed Alabama income tax returns or appropriate extensions have been
received for the two income tax years immediately preceding the year of sale. (2) The seller
or transferor is in business in Alabama and will continue substantially the same business
in Alabama after the sale or the seller or transferor has real property remaining in the state
at the time of closing of equal or greater value than the withholding tax liability as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-86.htm - 6K - Match Info - Similar pages
45-40-91
Section 45-40-91 Industrial Development Board; Lawrence County Airport Authority. (a)
All power and authority granted to Lawrence County pursuant to Amendment 190 to the Constitution
of Alabama of 1901, or to any public authority or corporation created by Lawrence County pursuant
to Amendment 190 of the Constitution of Alabama of 1901, shall be consolidated into the Industrial
Development Board of Lawrence County, governed by a board of directors, for the unified economic
development of the county. The public authority or corporation shall have all the power and
authority and assume all of the obligations of public authority or corporation created pursuant
to Article 2, commencing with Section 11-20-30, Chapter 20 of Title 11. The board of
directors of the county public authority or corporation shall be composed of one member appointed
by each member of the county legislative delegation and three members appointed by the county
commission. One member of the board of directors shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-40-91.htm - 3K - Match Info - Similar pages
40-23-1
Section 40-23-1 Definitions; transactions considered or not considered sales. (a) For
the purpose of this division, the following terms shall have the respective meanings ascribed
by this section: (1) PERSON or COMPANY. Used interchangeably, includes any individual,
firm, copartnership, association, corporation, receiver, trustee, or any other group or combination
acting as a unit and the plural as well as the singular number, unless the intention to give
a more limited meaning is disclosed by the context. (2) DEPARTMENT. The Department of Revenue
of the State of Alabama. (3) COMMISSIONER. The Commissioner of Revenue of the State of Alabama.
(4) TAX YEAR or TAXABLE YEAR. The calendar year. (5) SALE or SALES. Installment and credit
sales and the exchange of properties as well as the sale thereof for money, every closed transaction
constituting a sale. Provided, however, a transaction shall not be closed or a sale completed
until the time and place when and where title is transferred by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-23-1.htm - 20K - Match Info - Similar pages
2-13-112
Section 2-13-112 Definitions. The following terms shall have the following meanings
unless the context shall provide otherwise: (1) STATE. The State of Alabama; (2) MILK. Any
class of cow's milk produced in the state; (3) DAIRY PRODUCTS. Products manufactured for human
consumption which are derived from the processing of milk and includes fluid milk products;
(4) FLUID MILK PRODUCTS. Those dairy products normally consumed in liquid form; (5) PERSON.
Any individual, group of individuals, partnership, corporation, association, cooperative association,
or any other entity; (6) PRODUCERS. Any person engaged in the production of milk for commercial
use; (7) PROMOTION. Actions such as paid advertising, sales promotion and publicity to advance
the image and sales of and demand for dairy products; (8) NUTRITION EDUCATION. Those activities
intended to broaden the understanding of sound nutritional principle including the role of
milk and dairy products in a balanced diet; (9) STATE ADA. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-13-112.htm - 2K - Match Info - Similar pages
27-31B-3
Section 27-31B-3 Licensing. (a) Any captive insurance company, when permitted by its
articles of association, charter, or other organizational document, may apply to the commissioner
for a license to do any and all insurance defined in Sections 27-5-2, 27-5-4, and 27-5-5,
in subdivisions (1), (2), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), and (14) of
subsection (a) of Section 27-5-6, in Sections 27-5-7, 27-5-8, 27-5-9, and 27-5-10,
and to grant annuity contracts as defined in Section 27-5-3, subject, however, to all
of the following: (1) No pure captive insurance company may insure any risks other than those
of its parent and affiliated companies or controlled unaffiliated business. (2) No association
captive insurance company may insure any risks other than those of the member organizations
of its association, and their affiliated companies. (3) No industrial insured captive insurance
company may insure any risks other than those of the industrial insureds that comprise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-3.htm - 11K - Match Info - Similar pages
|