Title 40 — Title 40
0 chapters · 2,056 sections in this title.
Ala. Code § 40-14A-1 Definitions
7.4K chars
For purposes of this chapter, the following terms shall mean: (a) ALABAMA S CORPORATION. An S corporation defined under Section 40-18-160. (b) C CORPORATION. A corporation other than an Alabama S corporation. (c) CODE. The Internal Revenue Code of 1986, as amended from time to ti…
Ala. Code § 40-14A-2 Operating Rules
1.2K chars
(a) The taxpayer’s net worth shall be determined for purposes of the taxes levied by this chapter in accordance with the accounting principles used in preparing the taxpayer’s financial statements reported to its owners. If the taxpayer’s financial statements are not prepared in …
Ala. Code § 40-14A-21 Short Title
0.2K chars
This article shall be known and may be cited as the “Alabama Business Privilege Tax Act of 1999.” History: (Act 99-665, 2nd Sp. Sess., §2; Act 2000-705, p. 1442, §2.)
Ala. Code § 40-14A-22 Levy and Amount of Tax
11.5K chars
(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 o…
Ala. Code § 40-14A-23 Definition of Net Worth
10.1K chars
(a) Net worth of corporation. The net worth of a corporation shall equal the aggregate net amount of the following items determined as of the first day of the corporation’s taxable year and adjusted as required in this article: (1) In the case of a corporation, the sum of the fol…
Ala. Code § 40-14A-24 Net Worth in Alabama
7.4K chars
(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…
Ala. Code § 40-14A-25 Filing of Returns
3.1K chars
(a) Every taxpayer shall file a privilege tax return, which shall include the public record disclosures required by Section 10-2B-16.22, with the department for every taxable year for which it is subject to the tax levied by this article. A disregarded entity that is owned by an …
Ala. Code § 40-14A-26 Remittance and Disposition of Tax
2.6K chars
The tax levied by this article shall be due at the same time the return is due. Remittance of the tax levied by this article shall be made to the department at Montgomery, Alabama, for deposit to the State Treasurer of Alabama. In addition to all other appropriations heretofore o…
Ala. Code § 40-14A-27 Dissolution, Etc., of Corporations or Limited Liability Entities
1.6K chars
Whenever a corporation or a limited liability entity organized under the laws of this state is dissolved, terminated, liquidated, or otherwise wound-up, by an agreement or notice of the stockholders or owners of the limited liability entity filed in the office of the judge of pro…
Ala. Code § 40-14A-28 Nonexemption from License or Privilege Tax
0.3K chars
The payment of the tax levied by this article shall not exempt any taxpayer from the payment of any regular license or privilege tax required by law for engaging in or carrying on any business for which a license or privilege tax is required of individuals, firms or corporations.…
Ala. Code § 40-14A-29 Submission of Initial Tax and Report
1.3K chars
(a) By domestic entities. Each corporation, limited liability entity, and disregarded entity organized under the laws of Alabama shall, within two and one-half months after its organization, file with the department an initial report setting out its name, address, and the name an…
Ala. Code § 40-14A-31 (Repealed for Taxable Years Beginning on or After January 1, 2002.) Levy of Tax
2.0K chars
(a) There is hereby levied an annual shares tax on all corporations incorporated or organized under the laws of Alabama, qualifying or registering to do business, or doing business in Alabama, unless otherwise exempted in this article; provided that all assets and other items of …
Ala. Code § 40-14A-32 (Repealed for Taxable Years Beginning on or After January 1, 2002.) Exemptions
1.0K chars
The tax levied by this article shall not apply to: (1) Financial institutions, as defined in Section 40-16-1, that are subject to the provisions of Chapter 16 as to the excise taxes levied on financial institutions; (2) Insurance companies that are subject to the premium taxes le…
Ala. Code § 40-14A-33 (Repealed for Taxable Years Beginning on or After January 1, 2002.) Definition of Initial
3.7K chars
Taxable Shares Base. (a) Determine the sum of the following as of the first day of the corporation’s taxable year: (1) The outstanding capital stock and any additional paid-in capital, but without reduction for treasury stock; and (2) Retained earnings, but not less than zero, wh…
Ala. Code § 40-14A-34 (Repealed for Taxable Years Beginning on or After January 1, 2002.) Definition of Taxable
6.1K chars
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 o…
Ala. Code § 40-14A-35 (Repealed for Taxable Years Beginning on or After January 1, 2002.) Filing of Returns
2.3K chars
(a) Every corporation organized, incorporated, qualified, or registered under Alabama law or doing business in Alabama as of the first day of a calendar year shall file a return with the department. The return is due not later than March 15 of each year or, in the case of a taxpa…
Ala. Code § 40-14A-36 (Repealed for Taxable Years Beginning on or After January 1, 2002.) Remittance and
1.0K chars
Disposition of Tax. The tax levied by this article shall be due at the same time the return is due. Remittance of the shares tax required by the above sections shall be made to the department at Montgomery, Alabama, for deposit to the State Treasurer of Alabama. In addition to al…
Ala. Code § 40-14A-37 (Repealed for Taxable Years Beginning on or After January 1, 2002.) Dissolution, Etc., of
1.4K chars
Corporations. Whenever a corporation organized or incorporated under the laws of this state is dissolved, terminated, liquidated, or otherwise wound-up, by an agreement of the stockholders filed in the office of the judge of probate of the county wherein the corporation was organ…
Ala. Code § 40-14A-38 (Repealed for Taxable Years Beginning on or After January 1, 2002.) Nonexemption from
0.4K chars
License or Privilege Tax. The payment of the shares tax levied by this article shall not exempt any taxpayer from the payment of any regular license or privilege tax required by law for the engaging in or carrying on any business for which a license or privilege tax is required o…
Ala. Code § 40-14A-41 Applicability to Certain Entities Organized Before January 1, 1999
0.4K chars
The taxes levied by this chapter shall not apply to any entity that was organized before January 1, 1999, was not subject to the franchise tax levied by former Chapter 14 of this title, and is entitled, pursuant to a contract entered into before January 1, 1999, to be indemnified…
Ala. Code § 40-14A-42 Applicability to Certain Corporations Under Contract with Department of Economic and
0.4K chars
Community Affairs. The taxes levied by this chapter shall not apply to any corporation that is wholly or partially exempt from the franchise tax imposed by former Chapter 14 of this title because it is a party to a contract with the Department of Economic and Community Affairs un…
Ala. Code § 40-14A-43 Applicability to Organizations Under 26 U.s.c.a. §501(A)
0.6K chars
The taxes levied by this chapter shall not apply to any organization described in 26 U.S.C. §501(a), any county, municipality, municipal corporation, or the State of Alabama, or any corporation or association owned solely by counties, municipalities, or the State of Alabama, any …