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40-21-6
Section 40-21-6 Factors to be considered in determining true value of entire property. Insofar
as the other evidence and information adduced before said department does not make it appear
to said department improper or unjust for it to do so, the said department shall, in fixing
the true value of the entire property, tangible and intangible, of any company, corporation,
association or individual embraced within the provisions of this title, consider as a factor
the average net earnings, averaged over a period of five years, and also take as a basis therefor
the aggregate average market value or true value for the preceding year of all its shares
of stock and add thereto the average market or true value for the preceding year of its entire
indebtedness secured by any mortgage, lien or other charge upon its property and assets, and
the sum or sums so produced shall be treated and considered a factor in ascertaining the true
value of said entire property, tangible and intangible, for...
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40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby approved,
adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article I. Purposes.
The purposes of this compact are to: 1. Facilitate proper determination of state and local
tax liability of multistate taxpayers, including the equitable apportionment of tax bases
and settlement of apportionment disputes. 2. Promote uniformity or compatibility in significant
components of tax systems. 3. Facilitate taxpayer convenience and compliance in the filing
of tax returns and in other phases of tax administration. 4. Avoid duplicative taxation. Article
II. Definitions. As used in this compact: 1. "State" means a state of the United
States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession
of the United States. 2. "Subdivision" means any governmental unit or special district
of a state. 3. "Taxpayer" means any corporation, partnership, firm,...
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40-18-31.2
Section 40-18-31.2 Factor presence nexus standard for business activity. (a)(1) Individuals
who are residents or domiciliaries of this state and business entities that are organized
or commercially domiciled in this state have substantial nexus with this state. (2) Nonresident
individuals and business entities organized outside of the state that are doing business in
this state have substantial nexus and are subject to the taxes provided for in Chapters 14A,
18, and 16 of this title, when in any tax period the property, payroll, or sales of the individual
or business in the state, as they are defined in subsection (d), exceeds the thresholds set
forth in subsection (b). (b) Substantial nexus is established if any of the following thresholds
are exceeded during the tax period: (1) A dollar amount of fifty thousand dollars ($50,000)
of property. (2) A dollar amount of fifty thousand dollars ($50,000) of payroll. (3) A dollar
amount of five hundred thousand dollars ($500,000) of sales, as...
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40-21-22
Section 40-21-22 Proportion of value or receipts within state to total value or receipts forms
basis of tax value. Where the person, association, company, or corporation operates a water
system, express business, electric property, toll bridge, toll ferry, street, or interurban
railroad or railroad or car line of any kind, telegraph or telephone line, pipeline, gas line,
or gas distributing system of any kind, docks or terminal companies or other public utilities,
the lines or properties of which extend beyond the state, there shall also be deducted from
the true value of the entire property, tangible and intangible, ascertained as above provided,
the market or true value ascertained from the information furnished by said statements, if
the value thereof is given in said statements, of all real and personal property of said person,
association, company, or corporation not specifically used in its business, and the remainder
shall be treated as the true value of all its property,...
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40-21-25
Section 40-21-25 Determining tax value of franchises and intangibles. From 30 percent of the
value of said entire property, tangible and intangible, thus ascertained, there shall be deducted
the assessed value of the entire tangible real and personal property of such persons, association,
company, or corporation, and the remainder of the true value shall by said Department of Revenue
be fixed and determined as the true value for taxation of the franchise, or intangible properties
owned and held by said persons, association, company, or corporation and made subject to taxation
by the provisions of this title, where the business and property of such persons, association,
company or corporation is within this state. (Acts 1935, No. 194, p. 256; Code 1940, T. 51,
ยง166.)...
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40-21-18
Section 40-21-18 Evidence and witnesses before department. The Department of Revenue shall
carefully examine and consider said statements and information and shall hear evidence and
secure further and additional information as far as may be in its power, whenever it may deem
it necessary to do so, to show the true value of properties of such corporations, associations,
companies, and individuals and the true value of that portion thereof which is situated within
this state and within the respective counties, cities, towns, or other tax districts in this
state; and each interested company, corporation, association, or individual may appear before
said department and introduce material and relevant testimony before the same touching the
true value of said property within this state and the apportionment thereof. From these statements,
evidence and information adduced before it, the Department of Revenue shall ascertain, fix,
and determine the true value of such property and of the...
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19-3A-104
Section 19-3A-104 Trustee's power to adjust. (a) If the terms of the trust expressly provide
by specific reference to this section, then a trustee may have the power to adjust between
principal and income to the extent the trustee considers necessary if (1) the trustee invests
and manages trust assets as a prudent investor; (2) the terms of the trust describe the amount
that may or must be distributed to a beneficiary by referring to the trust's income, and (3)
the trustee determines, after applying the rules in Section 19-3A-103(a), that the trustee
is unable to comply with Section 19-3A-103(b). (b) In deciding whether and to what extent
to exercise the power conferred by subsection (a), a trustee shall consider all factors relevant
to the trust and its beneficiaries, including, but not limited to: (1) The nature, purpose,
and expected duration of the trust; (2) The intent of the settlor; (3) The identity and circumstances
of the beneficiaries; (4) The needs for liquidity for the...
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40-21-4
Section 40-21-4 Detailed requirements of reports. Each such report shall show the following
items and particulars as the same stood on the next preceding October 1, together with any
other facts or information that may be called for by said Department of Revenue: (1) The name
and principal place of business of the company, corporation, association, or individual in
whose behalf the statement is made and the character of the business engaged in; (2) If a
company, association or corporation, the state, or government under the laws of which it was
incorporated or authorized to do business, the date of original organization, the date of
reorganization, consolidation, or merger and the purpose of its incorporation as expressed
in its charter or articles of association; (3) The place where all books, papers, and accounts
are kept, and the names and post-office addresses of the president, secretary, treasurer,
superintendent, general manager, general counsel, directors, and all other general...
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36-27-24
Section 36-27-24 Funds for assets of retirement system - Creation; composition; disposition
of funds; appropriations. (a) Effective October 1, 1997, all the assets of the retirement
system shall be credited according to the purpose for which they are held among three funds,
namely, the Annuity Savings Fund, the Pension Accumulation Fund, and the Expense Fund. The
operation of the former Pension Reserve Fund and the Annuity Reserve Fund shall be discontinued
as of such date and the balance of the former Pension Reserve Fund shall be transferred to
the Pension Accumulation Fund, and the balance of the former Annuity Reserve Fund shall be
transferred to the Pension Accumulation Fund. (b) Annuity Savings Fund. The Annuity Savings
Fund shall be a fund in which shall be accumulated contributions from the compensation of
members to provide for their annuities. Contributions to and payments from the Annuity Savings
Fund shall be made as follows: Effective October 1, 1971, each employer shall...
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40-21-20
Section 40-21-20 What considered in arriving at taxable value of property. In arriving at the
value of such taxable property, whenever used in this chapter or whenever required, the Department
of Revenue, the tax assessors, deputy tax assessors, board of equalization, or other assessing
authorities and the courts shall be authorized to consider and may consider original costs,
reproduction cost new less depreciation, recent sales of contiguous or similar property, the
nature of the property, its location, whether in town, city or county, whether it is vacant
or occupied, its proximity to local advantages, its use, its fitness for the use to which
employed, or its fitness for other uses, the quality of soil, its growth of timber, its mines,
minerals, coal beds, oil or gas deposits, the amount and character of improvements thereon,
the amount of insurance carried on each item of property, the gross and net income received
therefrom during the year or years preceding the date of...
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