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40-16-1.2
Section 40-16-1.2 Additional items included in federal taxable income; items deducted from
federal taxable income. (a) The following items shall be added to federal taxable income for
purposes of computing net income under this chapter: (1) The tax due under this chapter that
is deducted in computing federal taxable income. (2) State and local taxes that are deducted
for purposes of calculating federal taxable income for which a credit is claimed under Section
40-16-8, to the extent the credit is utilized to reduce the tax owed under this chapter. (3)
Refunds of federal income taxes deducted in prior tax periods for purposes of computing the
tax due under this chapter. (4) Dividends received from a corporation in which the taxpayer
owns less than 20 percent of the stock, by vote and value, but only to the extent the dividends
are properly deducted in computing taxable income for federal income tax purposes. (5) State,
county, and municipal interest income from loans and securities that...
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40-18-8
Section 40-18-8 Gain or loss - Recognition. (a) General rule. Except as provided in this section,
upon the sale or exchange of property, the entire amount of the gain or loss determined under
Section 40-18-7 shall be recognized. (b) Exchange of stock for stock of same corporation.
No gain or loss shall be recognized if common stock in a corporation is exchanged solely for
common stock in the same corporation, or if preferred stock in a corporation is exchanged
solely for preferred stock in the same corporation. (c) Like-kind exchanges. If an exchange
of property satisfies the requirements of 26 U.S.C. § 1031, relating to like-kind exchanges,
then the amount of gain or loss recognized in the exchange shall be determined in accordance
with 26 U.S.C. § 1031. (d) Involuntary conversions. If a taxpayer validly elects to determine
the amount of gain recognized for federal income tax purposes under 26 U.S.C. § 1033, relating
to involuntary conversions, the amount of gain recognized shall...
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19-3B-1304
Section 19-3B-1304 Trusts for employees or self-employed persons. (a) A trust of real or personal
property or real and personal property combined: (1) which is created by an employer as part
of a stock bonus plan, pension plan, disability or death benefit plan, or profit-sharing plan,
for the exclusive benefit of some or all his or her employees, to which contributions are
made by such employer or employees, or both, for the purpose of distribution to such employees
the earnings of the principal, or both earnings and principal of the fund so held in trust;
or (2) which is created by a self-employed person or group of self-employed persons and: a.
which is part of a retirement, disability, or death benefit plan for such self-employed person
or persons; and b. contributions to which are deductible, in whole or in part, from gross
income for federal income tax purposes under the internal revenue laws of the United States;
or (3) which is created for the collective investment of the funds...
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40-14A-24
Section 40-14A-24 Net worth in Alabama. (a) A taxpayer's net worth in Alabama shall be determined
by apportioning the taxpayer's net worth computed under Section 40-14A-23 in the same manner
as prescribed for apportioning income during the determination period for purposes of the
income tax levied by Chapter 18, or the manner in which the income would be apportioned if
the taxpayer were subject to the income tax, or for the purposes of the financial institution
excise tax levied by Chapter 16; provided, however, that the net worth of insurers subject
to the insurance premium tax levied by Chapter 4A of Title 27 shall be apportioned on the
basis of the ratio of the insurer's Alabama premium income to its nationwide total direct
premiums as reflected on schedule T of the insurer's annual statement filed with the Commissioner
of Insurance for the then immediately preceding calendar year. (b) There shall be deducted
from the amount of net worth in Alabama as determined in accordance with...
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40-18-146
Section 40-18-146 Political party defined; designated contribution by taxpayers filing state
income tax return; disposition of contributions. (a) For purposes of this article, the term
"political party" shall be defined as provided in Section 17-16-2. (b) Every individual
who files a state income tax return may designate a contribution to a political party as provided
under this section. Amounts of contributions for an individual return shall be $1 and, for
a joint return, $2. Such contributions shall increase the tax liability of the taxpayer by
the amount contributed. (c) The designation for a political party shall appear on the face
of the individual income tax return. The contributions so designated by the taxpayer and collected
by the State of Alabama, Department of Revenue, shall be reserved for remittance to the appropriate
officials of the state governing authority of the designated political party. The state Revenue
Commission shall annually certify by December 1, all such...
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41-10-44.3
Section 41-10-44.3 Additional powers of authority. In addition to the powers granted to it
in Section 41-10-26 and in Sections 41-10-37 through 41-10-43, the authority shall have the
following powers: (1) To adopt and alter bylaws for the regulation and conduct of its affairs
and business; (2) To borrow money and to issue project obligations, whether or not the interest
thereon is excluded from gross income for federal income tax purposes, for the purpose of
financing project costs, and to provide for the rights of the purchasers, holders or owners
of its project obligations; (3) To execute and deliver mortgages, security agreements and
trust indentures and other forms of agreements for the purpose of securing its project obligations,
and in connection therewith, to mortgage, pledge or assign the revenues, receipts and other
property of the authority received, and the financing agreements entered into by the authority
in connection with, the financing of projects under this Article 2A;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.3.htm - 5K - Match Info - Similar pages
25-4-152
Section 25-4-152 Deduction of child support obligations; procedures; reimbursement for administrative
costs; time of implementation; deduction of federal income tax. (a) (1) An individual filing
a claim for unemployment compensation shall, at the time of filing such claim, disclose whether
or not the individual owes child support obligations as defined under subdivision (7). If
any such individual discloses that he or she owes child support obligations, and is determined
to be eligible for unemployment compensation, the secretary shall notify the state or local
child support enforcement agency enforcing such obligation that the individual has been determined
to be eligible for unemployment compensation. (2) The secretary shall deduct and withhold
from any unemployment compensation payable to an individual who owes child support obligations
as defined under subdivision (7). a. The amount specified by the individual to the secretary
to be deducted and withheld under this subdivision, if...
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40-14A-34
Section 40-14A-34 (Repealed for taxable years beginning on or after January 1, 2002.) Definition
of taxable shares base. The taxable shares base shall be determined as follows: (a) Multiply
the corporation's initial taxable shares base by the apportionment factor used to apportion
the corporation's income to Alabama for purposes of the Alabama income tax in accordance with
Chapter 18 or that would be used if the corporation were subject to income tax under Chapter
18. (b) From the amount determined in subsection (a), deduct the following: (1) The book value
of all devices, facilities, or structures, and all identifiable components or materials for
use therein, that are located in Alabama and are acquired or constructed primarily for the
control, reduction, or elimination of air, ground, or water pollution or radiological hazards
where such pollution or radiological hazards result from or would be caused by activities
of the taxpayer in Alabama; (2) The net amount invested by the...
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40-9F-33
Section 40-9F-33 Limitations on tax credits; Historic Income Tax Credit Account; transfer or
assignment of tax credits. (a) The state portion of any tax credit against the tax imposed
by Chapter 18 for the taxable year in which the certified rehabilitation is placed in service,
shall be equal to 25 percent of the qualified rehabilitation expenditures for certified historic
structures. No tax credit claimed for any certified rehabilitation may exceed five million
dollars ($5,000,000) for all allowable property types except a certified historic residential
structure, and fifty thousand dollars ($50,000) for a certified historic residential structure.
(b) There is created within the Education Trust Fund a separate account named the Historic
Preservation Income Tax Credit Account. The Commissioner of Revenue shall certify to the Comptroller
the amount of income tax credits under this section and the Comptroller shall transfer into
the Historic Preservation Income Tax Credit Account only...
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45-41-244.21
Section 45-41-244.21 Exemptions; definitions. There are exempted from the levy of such taxes
the gross receipts of any business and the gross proceeds of all sales which are exempted
under the state sales tax statutes from the computation of the amount of the state sales tax.
And there is also exempted from the levy the storage, use, or other consumption of property,
the storage, use, or other consumption of which is exempted under the state use tax statutes
from the state use tax. Subject to these exemptions, every person storing or using or otherwise
consuming in that part of Lee County outside the corporate limits of the Cities of Auburn,
Opelika, and Phenix City tangible personal property purchased at retail shall be liable for
the tax imposed, and the liability shall not be extinguished until the tax has been paid by
such person; provided, however, that a receipt from a registered seller given to the purchaser
of any property to be used, stored, or consumed in such part of Lee...
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