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40-18-39
Section 40-18-39 Corporate returns. (a) Except as provided in subsection (c), every corporation,
joint stock company, or association subject to income tax under this chapter shall file a
return with the Department of Revenue for each taxable year, stating specifically the items
of its gross income and the deductions and credits allowed by this chapter. In cases where
receivers, trustees in bankruptcy, or assignees are operating the property or business of
corporations, such receivers, trustees, or assignees shall file returns for such corporations
in the same manner and form as corporations are required to file returns. Any tax due on the
basis of such returns filed by receivers, trustees, or assignees shall be collected in the
same manner as if collected from the corporations of whose business or property they have
custody and control. Returns shall be filed by the same date as the corresponding federal
income tax returns are required to be filed as provided under federal law. The...
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40-18-35.1
Section 40-18-35.1 Carry forward of net operating losses. In computing the taxable income of
corporations subject to income tax as outlined in Section 40-18-35, there shall be allowed,
in addition to the deductions specified therein, a deduction for the sum of the net operating
losses which may be carried forward to the taxable year for which the net income of the corporation
is being computed. (1) The term "net operating loss" for the purposes of this section
means the excess of the deductions (other than the deduction allowed by this subdivision)
allowed by this chapter during a taxable year of the corporation over the corporation's gross
income during that taxable year. For purposes of this paragraph, the corporation's gross income
and allowable deductions shall be determined under the provisions of this chapter applicable
to the year in which the net operating loss arises. (2) A net operating loss shall be carried
forward to the earliest subsequent taxable year in which the...
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40-18-21
Section 40-18-21 Credits for taxes paid on income from sources outside the state and for job
development fees. (a)(1) For the purpose of ascertaining the income tax due under the provisions
of this chapter by individual residents of Alabama whose gross income, as defined herein,
is derived from sources both within and outside the State of Alabama, there shall be allowed
a credit against the amount of tax found to be due by such resident, on account of income
derived from outside the State of Alabama, the amount of income tax actually paid by such
resident to any state or territory on account of business transacted or property held, directly
or indirectly, outside the State of Alabama. Resident individual owners of Subchapter K entities,
Alabama S corporations, and beneficiaries of estates or trusts who include their proportionate
share of the income arising from one or more of these entities in their Alabama gross income
shall be allowed a credit for their proportionate share of the...
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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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40-18-29
Section 40-18-29 Fiduciary returns. (a) Every fiduciary, except receivers appointed by authority
of law in possession of part only of the property of a taxpayer, shall make a return for the
taxpayer for whom he acts, first, if the net income of such taxpayer is $1,500 or over, if
single or if married and not living with husband or wife, or $3,000 or over, if married and
living with husband or wife, or second, if the net income of such taxpayer, if an estate or
trust, is $1,500 or over, or if any beneficiary is a taxpayer other than a resident of the
state, which returns shall state specifically the items of the gross income and the deductions,
exemptions and credits allowed by this chapter under such regulations as the Department of
Revenue may prescribe, a return made by one or two or more joint fiduciaries and filed in
the office of the Department of Revenue shall be a sufficient compliance with the above requirement.
The fiduciary shall certify that he has sufficient knowledge of...
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40-21-100
Section 40-21-100 Definitions. (a) For the purpose of this article, the following terms shall
have the respective meanings ascribed by this section: (1) BUSINESS. All activities relating
to the furnishing of utility services. (2) DEPARTMENT. The Department of Revenue of the State
of Alabama. (3) DOMESTIC WATER. All water except water that is sold to persons for use or
consumption in industrial processes and not primarily for human consumption. (4) GROSS RECEIPTS.
The value proceeding or accruing from the furnishing of utility services, all receipts actual
and accrued, without any deduction on account of the cost of the utility services sold, the
cost of the materials used, labor or service cost, interest paid, or any other expense whatever,
and without any deductions on account of losses. (5) GROSS SALES. The value proceeding or
accruing from the furnishing of utility services, and including the proceeds from the sale
of any utility services handled on consignment by the taxpayer,...
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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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40-29-90
Section 40-29-90 Jeopardy assessment - For income tax. (a) Termination of taxable period. If
the commissioner or his delegate finds that a taxpayer designs quickly to depart from the
State of Alabama or to remove his property therein, or to do any other act tending to prejudice
or to render wholly or partly ineffectual proceedings to collect the income tax for the current
or the preceding taxable year unless such proceedings be brought without delay, the commissioner
or his delegate shall declare the taxable period for such taxpayer immediately terminated,
and shall cause notice of such finding and declaration to be given the taxpayer, together
with a demand for immediate payment of the tax for the taxable period so declared terminated
and of the tax for the preceding taxable year or so much of such tax as is unpaid, whether
or not the time otherwise allowed by law for filing return and paying the tax has expired;
and such taxes shall thereupon become immediately due and payable. In...
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40-18-24
Section 40-18-24 Taxation of subchapter K entity. (a) The amount of income, deduction, gain,
loss, or credit includable or deductible by an owner of an interest in a subchapter K entity
shall be determined in accordance with subchapter K of the Internal Revenue Code, 26 U.S.C.
ยงยง 701-761. (b) For purposes of computing its net income, a subchapter K entity shall add
back otherwise deductible interest expenses and costs and intangible expenses and costs directly
or indirectly paid, accrued or incurred to, or in connection directly or indirectly with,
one or more direct or indirect transactions, with one or more related members, except to the
extent the subchapter K entity shows, upon request by the commissioner, that the corresponding
item of income was in the same taxable year: (1) subject to a tax based on or measured by
the related member's net income in Alabama or any other state of the United States, or (2)
subject to a tax based on or measured by the related member's net income...
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40-18-25.2
Section 40-18-25.2 Estates and trusts - Deductions from gross income of net operating loss.
(a) Nothing in Act 2006-114 shall be construed to change or otherwise affect a taxpayer's
liability relating to a tax year beginning prior to the effective date of Act 2006-114. (b)
Should: (1) any trust which is described in Section 40-18-25(b), or (2) any business trust,
as such term is defined in Section 40-18-1(1), which is classified as a disregarded entity
for federal income tax purposes, be taxed separately from its owner or owners during tax years
prior to the effective date of Act 2006-114, any net operating loss of such trust existing
on December 31, 2004, shall be allowed as a deduction from the gross income, or net income,
of the owner or owners of the trust in a tax year beginning after December 31, 2004. (c) The
deduction allowed in subsection (b) to the owner or owners of the trust shall be in an amount
not to exceed the greater of the following amounts: (1) the amount which is...
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