SB202
171463-1:n:08/17/2015:JET*/th LRS2015-2668 SB202 By Senators Coleman-Madison, Beasley, Singleton, Pittman, Figures and Sanders RFD Finance and Taxation Education Rd 1 11-FEB-16 SYNOPSIS: Under current law, each entity, subject to the Alabama corporate income tax, is required to file a separate return and calculate the income tax on its separately accounted for taxable income, regardless whether the entity is part of a larger business that consists of an affiliated group of entities. This filing method allows large corporate taxpayers to take advantage of tax planning options to shift income to other entities within the affiliated group located in tax favorable states. Most large corporate businesses consist of a parent corporation and a number of corporate subsidiaries. This bill would amend the corporate income tax law to require the operations of all related entities, involved in a unitary business, file one corporate income tax return on a combined basis, known as combined...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB202.htm - 63K - Match Info - Similar pages
HB251
173987-2:n:02/17/2016:FC/tj LRS2016-576R1 HB251 By Representatives Daniels, Whorton (R), Hill (M), Treadaway, Hill (J), Farley, Hall and Mooney RFD State Government Rd 1 17-FEB-16 SYNOPSIS: Under existing law, individual state income tax returns are generally due on or before April 15 following the close of the calendar year. Corporate state income tax returns are generally due on or before March 15 following the close of the calendar year or on or before the fifteenth day of third month following the close of the fiscal year for corporations that filed on a fiscal year basis. Recently, the federal government has changed certain filing dates for federal income tax returns. This bill would provide for the due dates of state income tax returns to correspond to the due dates for federal returns. The bill would also further provide for a payment to be made on the due date of a return. A BILL TO BE ENTITLED AN ACT To amend Sections 40-18-27, 40-18-39, and 40-18-42 of the Code of Alabama...
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SB263
SB263 By Senator Ross ENROLLED, An Act, To amend Sections 40-18-27, 40-18-39, and 40-18-42 of the Code of Alabama 1975; to further provide for the due dates of certain state income tax returns to correspond to the due dates of federal income tax returns and to further provide for a payment to be made on the due date of a return. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections 40-18-27, 40-18-39, and 40-18-42 of the Code of Alabama 1975, are amended to read as follows: §40-18-27. "(a) Effective for tax years beginning after December 31, 1997, every taxpayer having an adjusted gross income for the taxable year of more than one thousand eight hundred seventy-five dollars ($1,875) if single or if married and not living with spouse, and of more than three thousand seven hundred fifty dollars ($3,750) if married and living with spouse, shall each year file with the Department of Revenue a return stating specifically the items of gross income, the deductions and credits...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB263.htm - 21K - Match Info - Similar pages
HB462
175707-1:n:03/15/2016:LFO-HP*/bdl HB462 By Representative Martin RFD Ways and Means General Fund Rd 1 22-MAR-16 SYNOPSIS: Under current law, all entities doing business or registered to do business in Alabama, have an annual filing obligation for Business Privilege Tax. The Business Privilege Tax is calculated based on an entitys net worth, apportioned to Alabama. There is a minimum of $100 Business Privilege Tax imposed annually on all entities subject to this tax. Currently, taxpayers have an annual maximum Business Privilege Tax due of $15,000. In addition, under current law, the Business Privilege Tax due date for Financial Institutions is March 15. The Alabama Excise Tax return filed by financial institutions is due April 15. Taxpayers often need to extend the filing date of the Business Privilege Tax in order to have complete information not available until the Financial Institution Excise Tax return is completed. In addition, this bill ensures that all other entity types have...
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HB270
cell captive insurance companies. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections 27-31B-2, 27-31B-3, 27-31B-6, 27-31B-8, 27-31B-9, 27-31B-12, 27-31B-16, 27-31B-19, 27-31B-20, 27-31B-22, and 27-31B-24, Code of Alabama 1975, are amended to read as follows: §27-31B-2. "As used in this chapter, the following terms shall have the following meanings, unless the context clearly indicates otherwise: "(1) AFFILIATED COMPANY. Any company in the same corporate system as a parent, an industrial insured, or a member organization by virtue of common ownership, control, operation, or management. "(2) ALIEN CAPTIVE INSURANCE COMPANY. Any insurance company formed to write insurance business for its parents and affiliates and licensed pursuant to the laws of an alien jurisdiction which imposes statutory or regulatory standards in a form acceptable to the commissioner on companies transacting the business of insurance in that jurisdiction. "(3) ASSOCIATION. Any legal association of...
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HB459
attorneys, engineers, consultants, and other professionals as the board shall deem necessary for the conduct of the business of the institute. "(13) To provide grants to educational, governmental, nonprofit, community-based, workforce development, economic development, and other organizations and associations engaged in the education, recruitment, training, placement, and professional development of persons engaged in activities leading to the furtherance of careers in commercial and industrial construction in accordance with the purposes of the institute. "(14) To cooperate or partner, or both, with regional and national organizations promoting construction workforce development, including the sharing of non-monetary marketing and educational resources and databases, in furtherance of the purposes of the institute. "(15) To do all things necessary or convenient to carry out the powers and purposes conferred by this section. "(16) To exercise any and all powers permissible under...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB459.htm - 141K - Match Info - Similar pages
HB569
Rep(s). By Representative Clouse HB569 ENGROSSED A BILL TO BE ENTITLED AN ACT To authorize the creation of a new public corporation of the State of Alabama to be known as the "Alabama Economic Settlement Authority"; to make Legislative findings; to provide procedures for incorporating the authority; to provide for the members, officers and directors of the authority; to provide for the powers of the authority; to authorize the issuance of bonds by the authority and to provide for the source of payment of, and security for, the bonds; to provide for the form, sale and execution of the bonds; to provide for the disposition of the proceeds of the bonds, including deposits in the Alabama Trust Fund and the General Fund Rainy Day Account of the Alabama Trust Fund and the payment of costs of certain transportation projects; to create a special fund to be known as the "BP Settlement Fund" and to provide for deposits into and withdrawals from the fund; to appropriate and pledge certain...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB569.htm - 42K - Match Info - Similar pages
HB321
174083-2:n:02/24/2016:KMS*/cj LRS2016-633R1 HB321 By Representatives Faust, Shiver, Sessions, Gaston, Baker, McMillan, Bracy, Buskey, Pringle, Williams (JW), Wilcox, Davis, Clarke, Drummond and Jackson RFD Insurance Rd 1 25-FEB-16 SYNOPSIS: Under existing law, all insurers authorized and writing property insurance in the State of Alabama are required to be members of the Alabama Insurance Underwriting Association, which was established to provide a method whereby essential property insurance coverage would be provided in any county contiguous to the Gulf of Mexico and Mobile Bay. This bill would create the Alabama Coastal Insurance Authority for the purpose of providing affordable windstorm insurance for owners of insurable property in any county contiguous to the Gulf of Mexico and Mobile Bay. This bill would provide for the selection of the board of directors of the authority. This bill would provide for the adoption of the plan of operation of the authority, including the process...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB321.htm - 38K - Match Info - Similar pages
SB298
174083-2:n:02/24/2016:KMS*/cj LRS2016-633R1 SB298 By Senators Hightower and Pittman RFD Banking and Insurance Rd 1 24-FEB-16 SYNOPSIS: Under existing law, all insurers authorized and writing property insurance in the State of Alabama are required to be members of the Alabama Insurance Underwriting Association, which was established to provide a method whereby essential property insurance coverage would be provided in any county contiguous to the Gulf of Mexico and Mobile Bay. This bill would create the Alabama Coastal Insurance Authority for the purpose of providing affordable windstorm insurance for owners of insurable property in any county contiguous to the Gulf of Mexico and Mobile Bay. This bill would provide for the selection of the board of directors of the authority. This bill would provide for the adoption of the plan of operation of the authority, including the process for post-loss assessments of policyholders and assessable insurers. This bill would authorize the sale of...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB298.htm - 38K - Match Info - Similar pages
HB526
176321-1:n:04/06/2016:LLR/tj LRS2016-1308 HB526 By Representative Scott RFD Financial Services Rd 1 12-APR-16 SYNOPSIS: This bill would create the Alabama Motor Vehicle Title Loan Act. The bill would: Require licensure by the State Banking Department for a person to act as a title loan lender; provide for the application for licensure; require a bond and a nonrefundable application and investigation fee; provide for inactive licenses, renewal and reactivation of licenses, a fee for the license, and for the denial, suspension, or revocation of licenses. The bill would specify acts which constitute violations for which certain disciplinary actions may be taken; would provide for the imposition of fines and criminal penalties; and would provide remedies for title loans made or serviced without proper licensure. The bill would establish requirements for a title loan agreement; would provide for reclaiming a repossessed motor vehicle under certain circumstances; and would provide payment of...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB526.htm - 54K - Match Info - Similar pages
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