11-88-16
Section 11-88-16 Exemption from taxation of authority and property, leases, bonds, etc., thereof; payment of fees, taxes, or costs to probate judge for incorporation, etc.; imposition of license or excise tax upon authority. The authority, the property and income of the authority, all bonds issued by the authority, the income from such bonds, conveyances by or to the authority and leases, mortgages, and deeds of trust by or to the authority shall be exempt from all taxation in the State of Alabama. The authority shall not be obligated to pay or allow any fees, taxes, or costs to the judge of probate of any county in respect of its incorporation, the amendment of its certificate of incorporation, or the recording of any document. No license or excise tax may be imposed on any authority in respect of the privilege of engaging in any of the activities authorized by this chapter. (Acts 1965, 1st Ex. Sess., No. 107, p. 132, §15.)...
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11-88-88
Section 11-88-88 Redemption of property after sale - Applicant to deliver copies of improvement assessment sale deed to probate judge; examination, etc., of deeds, etc., by probate judge; mailing of copies of deed and warning to redeem to persons last assessed for ad valorem taxation on property; entry in record of deeds of certificate of warning by probate judge; termination of redemption rights. At the time of application for entry of such certificate of warning to redeem, the applicant shall deliver to the probate judge three correct copies of the said deed with a notation thereon of the deed book and page where recorded and shall pay to the said probate judge a fee of $1.00. The said copies of the deed need not include any certificate of acknowledgment. It shall thereupon be the duty of the said probate judge to promptly compare the said copies with the record of such deed and, if such copies be found to be correct copies of such record, it shall be the further duty of such probate...
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19-3D-19
Section 19-3D-19 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TAX-RELATED LIMITATIONS. (a) In this section the following terms have the following meanings: (1) GRANTOR TRUST. A trust as to which a settlor of a first trust is considered the owner under 26 U.S.C. Sections 671 through 677, as amended, or 26 U.S.C. Section 679, as amended. (2) INTERNAL REVENUE CODE. The United States Internal Revenue Code of 1986, as amended. (3) NONGRANTOR TRUST. A trust that is not a grantor trust. (4) QUALIFIED BENEFITS PROPERTY. Property subject to the minimum distribution requirements of 26 U.S.C. Section 401(a)(9), as amended, and any applicable regulations, or to any similar requirements that refer to 26 U.S.C. Section 401(a)(9) or the regulations. (b) An exercise of the decanting power is subject to the following limitations: (1) If a first trust contains property that qualified, or would have...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3D-19.htm - 8K - Match Info - Similar pages
23-2-153
Section 23-2-153 Exemptions from levy, charge, assessment, collection, etc., of certain taxes; certificate of exemption. (a) The exercise of the powers granted by this article shall be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions. Since the ownership, operation, and maintenance of toll road, bridge, or tunnel projects by the authority will constitute the performance of essential functions, the authority, department, and any concessionaire, or any contractor, subcontractor, or agent thereof, shall not be required to pay the taxes or assessments as specifically authorized in this section upon any toll road, bridge, or tunnel project or any property acquired or used by the authority, department, or any concessionaire under this article. (b) An income, excise, or license tax or assessment may not be levied upon or collected in the state with respect to any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-153.htm - 5K - Match Info - Similar pages
40-10-188
Section 40-10-188 Record of tax lien auctions and sales. The tax collecting official shall make a correct record of all auctions and sales of tax liens in a durable book or an electronic file, which shall be known as the record of tax lien auctions and sales, containing all of the following: (1) The date of auction or sale. (2) A description of each parcel and uniform parcel number on which a tax lien was auctioned or sold. (3) The year of assessment to which the tax lien relates. (4) The name and address of the property owner for whom the property was assessed, if known. (5) The name and address of the original purchaser of the tax lien. (6) The total amount of taxes, interest, penalties, fees, and costs due on the tax lien, which relate to the year of assessment, as described in Section 40-10-187, as of the date of the auction or sale of the tax lien to the original purchaser. (7) The interest rate bid on by the purchaser at the tax lien auction or as agreed by the purchaser at the...
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40-10-31
Section 40-10-31 Removal of cloud upon title to real estate erroneously sold for taxes. Where real estate is erroneously sold for taxes and the state became the purchaser thereof, it shall be the duty of the tax collector of the county in which the real estate is situated to prepare and issue a certificate setting forth the following facts: (1) A correct description of the real estate sold and purchased by the state, (2) That the sale was erroneous and the reason therefor, and (3) The present owner of the property, if known. This certificate shall be forthwith forwarded to the Land Commissioner of the state; and, if it is determined by him that the facts therein set out are true and correct, he shall approve the same and forward the same to the judge of probate of the county in which the property is situated, who shall note on the margin of the record of such sale the fact that the Land Commissioner has approved the cancellation of the same, and he shall mark the sale void and sign his...
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40-18-6
Section 40-18-6 Gain or loss - Basis of property; adjusted basis. (a) Basis (unadjusted) of property. The basis of property shall be the cost of the property with the following exceptions: (1) INVENTORY VALUE. If the property should have been included in the last inventory, the basis shall be the last inventory value thereof. (2) GIFT or TRANSFER IN TRUST. If the property was acquired by gift or by a transfer in trust the basis shall be determined in accordance with 26 U.S.C. § 1015. If property was acquired by gift or transfer in trust on or after December 31, 1932 and prior to March 15, 1985, the basis shall be the fair and reasonable market value of the property at the time of the acquisition. (3) PROPERTY TRANSMITTED AT DEATH. If the property was acquired from a decedent, the taxpayer's basis in the property shall be determined in accordance with 26 U.S.C. § 1014. (4) PROPERTY ACQUIRED UPON LIKE-KIND EXCHANGE. If the property was acquired upon an exchange described in subsection...
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41-10-44.8
Section 41-10-44.8 Tax credits, job development fees and other incentives. (a) Upon the issuance by the authority of its project obligations for the purpose of financing a project for an approved company with respect to which the authority adopted a resolution accepting the project prior to January 16, 1995, the approved company: (1) Shall receive a credit against the corporate income tax levied by Section 40-18-31 that otherwise would be owed to the state in any year by the approved company on its income generated by or arising out of the project, such credit not to exceed the lesser of (i) the amount due in tax, or (ii) the amount paid by the approved company pursuant to a financing agreement in the year for which the tax is due, corresponding to debt service on the project obligations; and (2) May elect to withhold and retain the aggregate job development fees described in paragraph (b) below, but only to the extent that debt service payments under the financing agreement(s) exceed...
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11-49B-22
Section 11-49B-22 Taxes; exemptions; reporting credit sales; lien security; state sales tax provisions applicable; charge for collecting tax; voting. (a) The authority shall, subject to a referendum in the counties it proposes to serve, levy, in addition to all other taxes, including, but not limited to, municipal gross receipts license taxes, a 1/4 percent privilege license tax against gross sales or gross receipts, provided, however, that the rate of such tax on any person, firm, or corporation engaged in the type of business described in Section 40-23-2(4) shall be an amount equal to 1/32 percent of the gross proceeds from sales described in such section. The gross receipts of any business and the gross proceeds of all sales which are presently exempt under the state sales and use tax statutes are exempt from the tax authorized by this chapter. (b) The tax levied by this chapter shall be collected by the State Department of Revenue, the authority, the county, or by contract to a...
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11-50A-7
Section 11-50A-7 Tax exemptions; payments in lieu of taxes. All bonds, bond anticipation notes, and notes issued by the authority, the interest thereon, and the income therefrom shall be forever exempt from all taxation in the state. All income of the authority, all obligations, lease agreements, and mortgages of the authority, all conveyances by or to the authority, and all lien notices or other filings with respect to the property of the authority and the transfer thereof shall be forever exempt from any and all taxation in the state. The purchase, sale, or use of property by the authority shall be exempt from all sales, use, and license taxes levied by the state and all political subdivisions of the state. All property of the authority shall be exempt from ad valorem property taxation. Nevertheless, the authority, or any agent of the authority designated for the purpose of constructing, maintaining, or operating any project of the authority, shall pay to any validly constituted...
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