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24-11-4
Section 24-11-4 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. Establishment and Use
of First-time and Second Chance Home Buyer Savings Account. (a) Beginning January 1, 2019,
a first-time and second chance home buyer may open an account with a financial institution
designated in its entirety by the financial institution as a first-time and second chance
home buyer savings account. (b) Funds from a first-time and second chance home buyer savings
account may be used only to pay a first-time and second chance home buyer's eligible costs
for the purchase of a single-family residence in Alabama. (c) A first-time and second chance
home buyer may jointly own a first-time and second chance home buyer savings account with
another first-time and second chance home buyer if the joint account holders file a joint
income tax return. (d) Only cash and marketable securities may be contributed to a...
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30-3-192
Section 30-3-192 Data match system; accounts encumbered or surrendered; reasonable fees; liability;
disclosure of financial records; penalties. (a) The state Title IV-D agency shall enter into
agreements with financial institutions doing business in Alabama to develop and operate a
data match system, using automated data exchanges to the maximum extent feasible, to provide
on a calendar quarter basis the following information to the extent available for each noncustodial
parent who maintains an account with the contracting financial institution and who owes past
due support as identified by the state Title IV-D agency by name and Social Security number
or other taxpayer identifying information: (i) name, (ii) record address, (iii) Social Security
number or other tax identification number, and (iv) other identifying information that may
be a part of the institution's records. (b) Upon service of a notice of lien or levy from
the state Title IV-D agency on a financial institution, the...
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40-16-11
Section 40-16-11 Transition rules for Financial Institution Excise Tax Reform Act of 2019.
This section provides for transition rules for the implementation of the Financial Institution
Excise Tax Reform Act of 2019. (1) Act 2019-284 imposes for the first time a system of prepaid
estimated tax payments patterned after the federal system and transitions the Financial Institution
Excise Tax from the current post-payment system. To account for this transition, the Department
of Revenue shall waive both penalties and interest attributable to underpayments of estimated
tax payments occurring within the first two applicable tax years and not attributable to an
intentional disregard of the law. (2) Act 2019-284's conformity of the depreciation deduction
allowed in the calculation of the tax due under this chapter with the corollary deduction
allowed for federal income tax purposes, as well as the act's express rejection of the federal
Tax Cuts and Jobs Act of 2017's (i) limitations on the...
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40-18-79
Section 40-18-79 Overpayment of tax. Where there has been an overpayment of any tax imposed
under Section 40-18-71 or 40-18-80, the amount of such overpayment, if a petition for refund
is timely filed or the department otherwise allows an automatic refund within that period,
may be credited against any income tax or installment thereof then due from the taxpayer,
and any balance shall be refunded to the taxpayer or if the taxpayer's bank or other financial
institution, pursuant to the State Financial External Lead Program or any other similar program
selected by the department, certifies a petition for reimbursement that it has credited the
taxpayer's account in the amount of the refund due the taxpayer because the taxpayer's refund
was erroneously reversed by the department, then the balance shall be paid to the bank or
other financial institution as reimbursement. Any costs or reimbursement incurred shall be
paid from the same funds to which income tax revenues are deposited. (Acts...
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22-35-5
Section 22-35-5 Fee; withdrawals; disposition of funds; liability for clean-up costs; audit.
(a) Every owner of an underground or aboveground storage tank as defined in this chapter shall
pay an Underground and Aboveground Storage Tank Trust Fund fee as established by the provisions
of this chapter to be paid to the department. During the first year next following October
1, 1988, the amount of the annual Underground and Aboveground Storage Tank Trust Fund fee
shall be one hundred dollars ($100). Thereafter, the commission, upon recommendation of the
management board, shall set such an amount not to exceed one hundred fifty dollars ($150)
per year per regulated tank. Should the fund become depleted due to claims being greater than
amounts provided by tank fees, the commission shall be empowered to make special assessments
of tank fees to protect the financial integrity of the fund. Provided the total tank fees
and special assessments for any fiscal year do not exceed one hundred fifty...
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40-14A-22
Section 40-14A-22 Levy and amount of tax. (a) Levy of tax. There is hereby levied an annual
privilege tax on every corporation, limited liability entity, and disregarded entity doing
business in Alabama, or organized, incorporated, qualified, or registered under the laws of
Alabama. The tax shall accrue as of January 1 of every taxable year, or in the case of a taxpayer
organized, incorporated, qualified, or registered during the year, or doing business in Alabama
for the first time, as of the date the taxpayer is organized, incorporated, registered, or
qualifies to do business, or begins to do business in Alabama, as the case may be. The taxpayer
shall be liable for the tax levied by this article for each year beginning before the taxpayer
has been dissolved or otherwise ceased to exist or has withdrawn or forfeited its qualification
to do business in Alabama. The amount of the tax due shall be determined by multiplying the
taxpayer's net worth in Alabama by the rate determined in...
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40-9B-3
Section 40-9B-3 Definitions. (a) For purposes of this chapter, the following words and phrases
mean: (1) ABATE, ABATEMENT. A reduction or elimination of a taxpayer's liability for tax or
payments required to be made in lieu thereof. An abatement of transaction taxes imposed under
Chapter 23 of this title, or payments required to be made in lieu thereof, shall relieve the
seller from the obligation to collect and pay over the transaction tax as if the sale were
to a person exempt, to the extent of the abatement, from the transaction tax. (2) ALTERNATIVE
ENERGY RESOURCES. The definition given in Section 40-18-1. (3) CONSTRUCTION RELATED TRANSACTION
TAXES. The transaction taxes imposed by Chapter 23 of this title, or payments required to
be made in lieu thereof, on tangible personal property and taxable services incorporated into
an industrial development property, the cost of which may be added to capital account with
respect to the property, determined without regard to any rule which...
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27-17A-11
Section 27-17A-11 Application for certificate; statements; issuance; expiration; transfer.
(a) An application to the commissioner for a certificate of authority shall be accompanied
by the statement and other matters described in this section in the form prescribed by the
commissioner. Annually thereafter, within six months after the end of its fiscal period, or
within an extension of time therefor, as the commissioner for good cause may grant, the person
authorized to engage in the sale of preneed contracts shall file with the commissioner a full
and true statement of his or her financial condition, transactions, and affairs, prepared
on a basis as adopted by a rule of the commissioner, as of the preceding fiscal period or
at such other time or times as the commissioner may provide by rule, together with information
and data which may be required by the commissioner. (b) The statement shall include all of
the following: (1) The types of preneed contracts proposed to be written and the...
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40-21-80
Section 40-21-80 Definitions. (a) For the purpose of this article, the following terms shall
have the respective meanings ascribed by this section: (1) DEPARTMENT. The Department of Revenue
of the State of Alabama. (2) DOMESTIC WATER. All water except water that is sold to persons
for use or consumption in industrial processes and not primarily for human consumption. (3)
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 expenses whatever, and without any deductions on account of losses. (4) 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, without
any deduction on account of the cost of the utility services sold, the...
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40-18-392
Section 40-18-392 (Tax credit expires January 1, 2019, per subsection (g)). Qualifications
for and applicability of tax credit. (a) An Alabama small business tax credit is hereby allowed
for any Alabama small business employer that creates a new job and hires a new full-time employee
to fill that job. The credit shall be a one-time credit equal to one thousand five hundred
dollars ($1,500) for each qualified new employee, and shall only be applicable to a tax year
in which the new employee has completed 12 months of consecutive full-time employment with
the employer. (b) To qualify for the credit, the employer must have a net employee growth
as of the last date of each tax year during which the employer claims a credit pursuant to
this article. The net employee growth must equal or exceed the number of qualified new employees
for which a credit is sought in the current or applicable tax year, plus the total number
of qualified new employees for whom credits were claimed pursuant to...
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