40-14A-1
Section 40-14A-1 Definitions. For purposes of this chapter, the following terms shall mean: (a) ALABAMA S CORPORATION. An S corporation defined under Section 40-18-160. (b) C CORPORATION. A corporation other than an Alabama S corporation. (c) CODE. The Internal Revenue Code of 1986, as amended from time to time. (d) CORPORATION. An entity, including a limited liability company electing to be taxed as a corporation for federal income tax purposes, through which business can be conducted while offering limited liability to the owners of the entity with respect to some or all of the obligations of the entity, other than a limited liability entity or a disregarded entity. The term "corporation" shall include but not be limited to the following: Corporations, professional corporations, joint stock companies, unincorporated professional associations, real estate investment trusts, limited liability companies electing to be taxed as corporations for federal income tax purposes, and all...
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41-9-218
Section 41-9-218 Definitions. As used in this article, the following terms shall have the following meanings: (1) APPLICABLE PERCENTAGE. Zero percent for the first credit allowance date, 8.33 percent for the next six credit allowance dates, for the total of 50 percent. (2) CREDIT ALLOWANCE DATE. With respect to any qualified equity investment, the date on which such investment is initially made and each of the six anniversary dates of that date thereafter. (3) DEPARTMENT. The Department of Commerce. (4) LONG-TERM DEBT SECURITY. Any debt instrument issued by a qualified community development entity, at par value or a premium, with an original maturity date of at least seven years from the date of its issuance, with no acceleration of repayment, amortization, or prepayment features prior to its original maturity date. The qualified community development entity that issues the debt instrument may not make cash interest payments on the debt instrument during the period beginning on the...
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24-11-8
Section 24-11-8 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Penalty for Withdrawal for Purpose Other Than Eligible Costs. Except as otherwise provided in this section, if the account holder withdraws any funds from a first-time and second chance home buyer savings account for a purpose other than eligible costs for the purchase of a single-family residence in this state, the following shall apply: (1) The entire balance of the fund, including interest and other income on principal, shall be included in the account holder's taxable income for the tax year in which the withdrawal was made. (2) The account holder shall pay a penalty to the Department of Revenue equal to 10 percent of the amount withdrawn. The penalty shall not apply to funds withdrawn from an account which were: a. Withdrawn by reason of the account holder's death or disability or due to unemployment after the account...
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40-18-413
Section 40-18-413 (Per Section 40-18-416, this section is repealed following the close of fiscal year 2020) Scope and use of Growing Alabama Credits. (a) A taxpayer is allowed a Growing Alabama Credit to be applied against the tax levied by this chapter. In no event shall the Growing Alabama Credit cause a taxpayer's income tax liability to be reduced by more than 50 percent. Unused credits may be carried forward for no more than five years. (b) Growing Alabama Credits shall be granted to taxpayers using an online system administered by the Department of Revenue. The online system shall allow taxpayers to agree to make a cash contribution to an economic development organization which was approved by the Renewal of Alabama Commission, as provided in Section 40-18-412. The online system shall ensure that credits are not granted for contributions to an economic development organization in excess of the amounts approved by the Renewal of Alabama Commission, as provided in Section...
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45-49-142
Section 45-49-142 Definitions. For the purposes of this part, the following words shall have the following meanings: (1) COMMERCIAL BUILDING. Any building, structure, or other improvement to real property used or expected to be used for commercial or business purposes including rental property. The term does not include a school, church, senior citizens facility, or utility distribution or transmission poles or towers, utility substations, or any building used primarily for fire or emergency services. (2) DWELLING. Any building, structure, or other improvement to real property used or expected to be used as a dwelling or residence for one or more human beings, including, but not limited to, any of the following: a. A building, structure, or improvement assessed, for the purposes of state and county ad valorem taxation, as Class III single-family owner- occupied residential property. b. A duplex or an apartment building. c. Residential property used to generate rental income. d. Any...
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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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16-6D-8
Section 16-6D-8 Tax credits; Failing Schools Income Tax Credit Account. (a) To provide educational flexibility and state accountability for students in failing schools: (1) For tax years beginning on and after January 1, 2013, an Alabama income tax credit is made available to the parent of a student enrolled in or assigned to attend a failing school to help offset the cost of transferring the student to a nonfailing public school or nonpublic school of the parent's choice. The income tax credit shall be an amount equal to 80 percent of the average annual state cost of attendance for a public K-12 student during the applicable tax year or the actual cost of attending a nonfailing public school or nonpublic school, whichever is less. The actual cost of attending a nonfailing public school or nonpublic school shall be calculated by adding together any tuition amounts or mandatory fees charged by the school to the student as a condition of enrolling or of maintaining enrollment in the...
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40-23-4
Section 40-23-4 Exemptions. (a) There are exempted from the provisions of this division and from the computation of the amount of the tax levied, assessed, or payable under this division the following: (1) The gross proceeds of the sales of lubricating oil and gasoline as defined in Sections 40-17-30 and 40-17-170 and the gross proceeds from those sales of lubricating oil destined for out-of-state use which are transacted in a manner whereby an out-of-state purchaser takes delivery of such oil at a distributor's plant within this state and transports it out-of-state, which are otherwise taxed. (2) The gross proceeds of the sale, or sales, of fertilizer when used for agricultural purposes. The word "fertilizer" shall not be construed to include cottonseed meal, when not in combination with other materials. (3) The gross proceeds of the sale, or sales, of seeds for planting purposes and baby chicks and poults. Nothing herein shall be construed to exempt or exclude from the computation of...
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45-29-231.20
Section 45-29-231.20 Inmate work release program. (a) This section shall apply to Fayette County. (b) The following terms shall have the following meanings: (1) BOARD. The Sheriff of Fayette County in consultation with the Chief Deputy of the Fayette County Sheriff's Department. (2) INMATE. Any person convicted of a crime and sentenced to the county jail. (c) The employer of an inmate involved in work release shall pay the inmate's wages directly to the board. The board may adopt regulations concerning the disbursement of any earnings of the inmates involved in the work release program. The board shall be authorized to withhold from the inmate's earnings 40 percent of his or her gross earnings to pay such cost incident to the inmate's confinement as the board shall deem appropriate. The board may adopt policies to allow such monies to be spent exclusively for law enforcement and operation of the jail. After 40 percent has been deducted from the inmate's gross pay, the remainder of the...
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22-5A-4
Section 22-5A-4 Selection of community ombudsmen; training; certification; duties; area plan to describe program; notification of department as to prospective ombudsmen; advisory committee on program. (a) Each area agency on aging funded by the department shall select at least one community ombudsman in each planning and service area established according to regulations issued pursuant to the Older Americans Act of 1965, as amended. The community ombudsman shall be an employee or contractual employee of the area agency on aging and shall certify to having no association with any health care facility or provider for reward or profit. (b) The duties of each community ombudsman shall be as follows: (1) To receive, investigate, respond to, and attempt informally to resolve complaints made by or on behalf of recipients; (2) To report immediately instances of fraud, abuse, neglect, or exploitation to the department of pensions and security for investigation and follow-up pursuant to Chapter...
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