40-18-32
Section 40-18-32 Corporate income tax - Exemptions. With the exception of unrelated business taxable income determined in accordance with 26 U.S.C. § 512, the tax imposed by Section 40-18-31 shall not apply to the organizations referred to in 26 U.S.C. § 501(a), and the following entities: (1) Farmers and other mutual hail, cyclone, or fire insurance companies, mutual ditch or irrigation companies or like organizations of a purely local character, the income of which consists solely of assessments, dues, and fees collected from members for the sole purpose of meeting expenses; (2) Farmers, fruit growers, or like associations organized and operated as sales agents for the purpose of marketing the products of members and turning back the proceeds of sales, less the necessary selling expenses, on the basis of quantity of produce furnished by them; (3) Federal land banks and national farm loan associations as provided in 12 U.S.C. § 2055; (4) All national banks and national banking...
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40-18-34
Section 40-18-34 Additions required by corporations. The following items shall be added to federal taxable income for purposes of computing taxable income under this chapter: (a) State and local income taxes that are deductible in computing federal taxable income. (b) Interest on obligations of state or local governments other than Alabama that is excludable from gross income for federal income tax purposes. (c) Refunds of federal income taxes deducted. (d) Dividends received from a corporation in which the taxpayer owns less than 20% of the stock (by vote and value), but only to the extent such dividends are properly deducted in computing taxable income for federal income tax purposes. (Acts 1935, No. 194, p. 256; Code 1940, T. 51, §401; Acts 1975, No. 1195, p. 2348, §1; Acts 1985, No. 85-515, §15; Act 98-502, p. 1083, §1; Act 99-664, 2nd Sp. Sess., p. 124, §1; Act 2000-702, p. 1425, §1.)...
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40-18-422
Section 40-18-422 (Credit expires after 2025 tax year unless extended.) Tax credit for eligible employers of apprentices. (a) For tax years beginning on or after January 1, 2017, through the tax year beginning January 1, 2019, an Alabama income tax credit is allowed for eligible employers that employ an apprentice for at least seven full months of the prior taxable year. The credit shall equal up to one thousand dollars ($1,000) for each apprentice employed, not to exceed five apprentices employed. The Department of Revenue, in consultation with the Workforce Development Division of the Department of Commerce, shall establish a scale reflecting ranges of amounts of money an employer has invested in an eligible apprentice and a corresponding tax credit amount and shall award the tax credit in accordance with this scale following confirmation from the Workforce Development Division that the apprentice for whom the credit is claimed is in compliance with all federal and state requirements...
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40-18-22
Section 40-18-22 Taxpayers engaged in multistate business - Allocation and apportionment of deductions and exemptions. Taxpayers, including corporations, as well as subchapter K entities and Alabama S corporations, engaged in multistate business in such a manner as to subject their income to allocation and apportionment provided by the Multistate Tax Compact shall allocate and apportion their income, gains, losses, deductions, credits, and exemptions in the manner provided by Chapter 27. This section shall not apply to individuals. (Acts 1967, No. 396, p. 999, §1; Acts 1997, No. 97-625, p. 1048, §3; Act 2006-114, p. 173, §2.)...
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40-18-14
Section 40-18-14 Adjusted gross income of individuals. The term "gross income" as used herein: (1) Includes gains, profits and income derived from salaries, wages, or compensation for personal services of whatever kind, or in whatever form paid, including the salaries, income, fees, and other compensation of state, county, and municipal officers and employees, or from professions, vocations, trades, business, commerce or sales, or dealings in property whether real or personal, growing out of ownership or use of or interest in such property; also from interest, royalties, rents, dividends, securities, or transactions of any business carried on for gain or profit and the income derived from any source whatever, including any income not exempted under this chapter and against which income there is no provision for a tax. The term "gross income" as used herein also includes alimony and separate maintenance payments to the extent they are includable in gross income for federal income tax...
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40-16-4
Section 40-16-4 Levy; reporting of tax; promulgation of rules. (a)(1) Every such financial institution engaging in any of the following businesses: (i) Banking; (ii) Conducting the business of a financial institution as defined in this chapter; (iii) Conducting a credit card business through the issuance of credit cards to Alabama residents or businesses; or (iv) Conducting a business employing moneyed capital coming into competition with the business of national banks shall pay to the state annually for each taxable year an excise tax measured by its net income allocated and apportioned for the taxable year at the rate of six and one-half percent of the net income. (2) For purposes of the excise tax imposed by this chapter, any financial institution which has income from business activity that is taxable both within and without this state shall allocate and apportion its net income as provided in rules which shall be prescribed by the Department of Revenue, provided that such rules...
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23-1-181
Section 23-1-181 Appropriations and pledges of revenue for payment of principal and interest on bonds; sinking fund. (a) Where used in this section the following words and terms shall be given the following respective meanings: (1) BONDS. Such term, without qualifying words or phrases, means bonds of the corporation issued under this article. (2) CODE. The Code of Alabama, 1975. (3) CORPORATION. Alabama Highway Finance Corporation, a public corporation and instrumentality of the State of Alabama that was organized and is existing under this article. (4) GASOLINE TAX APPROPRIATION STATUTE. Section 40-17-359. (5) HIGHWAY GASOLINE TAX. a. The excise tax levied in subdivision (1) of subsection (a) of Section 40-17-325, exclusive of those portions of the tax in respect of aviation fuel and marine gasoline, as those terms are used in the section; and b. The excise tax levied by Article 3 of Chapter 17 of Title 40, exclusive of that portion of the tax in respect of diesel fuel. (6) NET...
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41-23-30
Section 41-23-30 Contracts with eligible businesses to provide for tax exemptions; preference to Alabama manufacturers; endorsement resolution; certification as to employees; wage subsidies. (a) The department, after consultation with the council, and with the approval of the Governor, may enter into contracts with eligible businesses to provide: (1) For the exemption from sales and use tax imposed by the State of Alabama or from sales and use tax imposed by its political subdivisions, upon approval of the governing authority thereof, of the purchases of the material used in the construction of a building, or any addition or improvement thereon, for housing any legitimate zone business enterprise, and machinery and equipment used in that enterprise. (2) For certain exemptions from income taxes levied by the State of Alabama levied on eligible corporations and individuals for a period of five years. (3) For certain exemptions of business privilege taxes levied by the State of Alabama...
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11-60-17
Section 11-60-17 Exemptions of corporations - Taxation. The corporation, the property and income of the corporation, all bonds issued by the corporation, the income from such bonds, conveyances by or to the corporation and leases, mortgages and deeds of trust by or to the corporation shall be exempt from all taxation in the State of Alabama. No license or excise tax may be imposed on any corporation in respect of the privilege of engaging in any of the activities authorized by this chapter. (Acts 1967, Ex. Sess., No. 218, p. 264, §13.)...
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40-9-60
Section 40-9-60 Certificates of exemption for persons or companies exempt from sales, use, and lodging taxes. (a) All persons or companies, including, but not limited to, those cited in this chapter, other than governmental entities, which have statutory exemption from the payment of Alabama sales and use taxes levied in, including, but not limited to, Chapter 23 of this title, or lodgings taxes levied in Chapter 26 of this title, regardless of the type of transaction or whether the tangible personal property is subject to sales and use tax or whether the accommodations are subject to lodgings tax, shall be required to annually obtain a certificate of exemption from the Department of Revenue. This requirement does not supersede or replace the provisions of Section 40-9-14.1 or any other provision of statute requiring an entity to obtain a certificate of exemption. This article only applies to entities that have been granted a general exemption from sales, use, or lodging taxes. The...
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