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40-18-15.2
Section 40-18-15.2 Net operating loss. Individuals may calculate a net operating loss
from a trade or business and apply the net operating loss against prior taxable income or
future taxable income pursuant to this section. (1) For purposes of this section,
the term "net operating loss" means the excess of the deductions allowed by this
chapter over the gross income. The excess shall be computed with the modifications specified
in subdivision (5). (2) A net operating loss may be carried back to each of the two taxable
years preceding the taxable year of the loss. A net operating loss carryover may be carried
to each of the 15 years following the taxable year of the loss. (3) The entire amount of the
net operating loss for any taxable year (hereinafter referred to as the "loss year")
shall be carried to the earliest of the taxable years to which, by reason of subdivision (2)
that loss may be carried. The portion of the loss which shall be carried to each of the other
taxable years shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-15.2.htm - 4K - Match Info - Similar pages
40-22-1
Section 40-22-1 Deeds, bills of sale, etc. (a) Except as set out in subsection (b),
no deed, bill of sale, or other instrument of like character which conveys any real or personal
property within this state or which conveys any interest in any such property shall be received
for record unless the privilege or license tax is paid prior to the instrument being offered
for record as provided in subsection (c). (b) No privilege or license tax shall be required
for any of the following: (1) The transfer of mortgages on real or personal property within
this state upon which the mortgage tax has been paid. (2) Deeds or instruments executed for
a nominal consideration for the purpose of perfecting the title to real estate. (3) The re-recordation
of corrected mortgages, deeds, or instruments executed for the purpose of perfecting the title
to real or personal property, specifically, but not limited to, corrections of maturity dates
thereof, and deeds and other instruments or conveyances,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-22-1.htm - 9K - Match Info - Similar pages
40-9G-2
Section 40-9G-2 Incentives for qualifying projects; filings; audits; promulgation of
regulations. (a) For any qualifying project, an abatement may be allowed for ad valorem taxes
and construction related transaction taxes. (1) The abatement of construction related transaction
taxes shall be subject to and shall follow the procedures, provisions, limitations, and definitions
of Chapter 9B, except that capitalized repairs, rebuilds, maintenance and replacement equipment
shall qualify for abatements. (2) The abatement of ad valorem taxes shall be subject to and
shall follow the procedures, provisions, limitations, and definitions of Chapter 9B, except
as follows: a. The amount of the ad valorem tax abatement shall be equal to the ad valorem
taxes owed, minus the ad valorem taxes owed from the tax year immediately before the qualifying
project was placed in service; b. As to any ad valorem tax abatement, capitalized repairs,
rebuilds, maintenance and replacement equipment shall qualify for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-9G-2.htm - 5K - Match Info - Similar pages
11-3-11.3
Section 11-3-11.3 Collection of local taxes - Department of Revenue. (a) Counties may,
upon request of the county commission, engage the Department of Revenue to collect and administer
any county sales, use, rental, lodgings, tobacco, or other local taxes for which there is
a corresponding state levy. Subject to subsections (d) and (e) below, the department shall
collect and administer a county sales, use, rental, lodgings, tobacco, or other tax for which
there is a corresponding state levy on behalf of the requesting county. Any county sales,
use, rental, or lodgings tax levy administered and collected by the Department of Revenue
pursuant to this section, whether the levy is imposed pursuant to the authority of
Section 40-12-4, or any general, special, or local act of the Legislature, shall parallel
the corresponding state tax levy, except for the rate of tax, and shall be subject to all
definitions, exceptions, exemptions, proceedings, requirements, provisions, rules, regulations,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-3-11.3.htm - 7K - Match Info - Similar pages
40-17-168.5
Section 40-17-168.5 Surety bond. (a) Upon approval of the application by the department,
the applicant must file with the department a surety bond. The bond amount for an applicant
for a license as a public seller of CNG/LNG or a fleet producer of CNG/LNG shall be a minimum
of twenty-five thousand dollars ($25,000) or in the approximate amount of twice the average
monthly tax liability, whichever is greater. (b) The department shall review the bond amounts
every five years beginning January 2023 to ensure that each public seller of CNG/LNG and each
fleet producer of CNG/LNG has posted a surety bond sufficient to cover twice the average monthly
tax liability as referenced in subdivision (a). Based upon this review or at any time that
the department determines that the bond amount is insufficient to cover twice the average
monthly tax liability, the commissioner may require an additional surety bond from any licensee
under one or more of the following circumstances: (1) The commissioner...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-17-168.5.htm - 4K - Match Info - Similar pages
40-17-335
Section 40-17-335 Surety bond. (a) Upon approval of the application by the department,
the applicant shall file with the department a surety bond as herein provided: (1) Except
as provided under subdivision (3), the bond amount for an applicant for a license as a supplier,
permissive supplier, or terminal operator shall be in the approximate amount of twice the
average monthly tax liability, not to exceed two million dollars ($2,000,000). (2) Except
as provided under subdivision (3), the bond amount for an applicant for a license as an exporter,
blender, importer, or distributor shall be a minimum of two thousand dollars ($2,000) or the
approximate amount of twice the average monthly tax liability, whichever is greater. (3) The
bond for distributors, suppliers, and permissive suppliers who are licensed with the department
on October 1, 2012, shall remain at the amount that is filed with the department on that date,
except as provided under subsection (b). (4) For an applicant for a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-17-335.htm - 4K - Match Info - Similar pages
40-18-378
Section 40-18-378 Verification of employment numbers; audits; return of unearned credit
amounts; liability of incentivized companies. (a) The Department of Labor shall periodically
verify the actual number of eligible employees employed at the qualifying project and the
wages of the eligible employees during the relevant year. If the Department of Labor is not
able to provide the verification utilizing all available resources, it may request any additional
information from the incentivized company as may be necessary. The Department of Revenue may
periodically audit any incentivized company to monitor compliance by the incentivized company
with this article. Nothing in this article shall be construed to limit the powers otherwise
existing for the Department of Revenue to audit and assess an incentivized company. The Department
of Insurance shall have similar audit rights over any incentivized company that is subject
to the insurance premium tax. (b) The project agreement shall include...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-378.htm - 3K - Match Info - Similar pages
40-23-192
Section 40-23-192 Simplified Sellers Use Tax Remittance Program. (a) There is hereby
established The Simplified Sellers Use Tax Remittance Program designed to allow an eligible
seller who participates in the program to collect, report, and remit the simplified sellers
use tax authorized herein in lieu of the sales or use taxes otherwise due by or on behalf
of Alabama customers who have purchased items from the eligible seller that were shipped or
otherwise delivered into Alabama by the eligible seller. Participation in the program shall
be by election of the eligible seller and only those eligible sellers accepted into the program
as set out herein shall collect and remit the simplified sellers use tax. Participation in
the program shall not be construed as subjecting an eligible seller to franchise, income,
occupation, or any other type of taxes or licensing requirements levied or imposed by the
state of Alabama or any locality. (b) The program shall be administered by the department,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-23-192.htm - 4K - Match Info - Similar pages
40-7-55
Section 40-7-55 Short form tax return; itemized listings. (a) Prior to October 1, 2014,
the Department of Revenue shall design a non-itemized business personal property tax return
short form "short form tax return" which, at the taxpayer's option, may be utilized
for reporting total taxable tangible business personal property assets with original acquisition
costs equal to or less than ten thousand dollars ($10,000) under the provisions of this article
and any rules promulgated by the department related thereto. Any taxpaying entity utilizing
the short form return agrees to a business personal property tax liability for that applicable
tax year that is based upon taxable tangible business personal property assets valued at ten
thousand dollars ($10,000), and that the submission of such short form return by the taxpayer
is a declaration to the county assessing official or other applicable agency that the property
is to be valued at ten thousand dollars ($10,000) for all taxable tangible...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-7-55.htm - 4K - Match Info - Similar pages
45-37-123.194
Section 45-37-123.194 Prohibition against diversion of funds. (a) Except as provided
below and otherwise specifically required by law, it shall be impossible by operation of the
plan or of the trust agreement, by termination of either, by power of revocation or amendment,
by the happening of any contingency, by collateral arrangement, or by any other means, for
any part of the corpus or income of any trust fund maintained pursuant to the plan or any
funds contributed thereto to be used for, or diverted to, purposes other than the exclusive
benefit of members, former members, or their beneficiaries; and no funds of the system, whether
in cash, securities, or otherwise, nor any income or yield thereof, shall be subject to or
exacted on account of, any tax; and no retirement or disability allowance or right to return
of contributions, or other benefits payable as set forth in the plan, shall be assignable
or be subject to execution, levy, attachment, garnishment, or other legal process....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.194.htm - 3K - Match Info - Similar pages
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