Title 40 — Title 40
0 chapters · 2,056 sections in this title.
Ala. Code § 40-18-85 (Repealed Effective for Tax Years Beginning After December 31, 2009) Estates and
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Fiduciaries. Repealed by Act 2010-568, effective with tax years beginning December 31, 2009. History: (Acts 1955, No. 289, p. 661, §17.)
Ala. Code § 40-18-86 Sale or Transfer of Real Property and Associated Tangible Property by Nonresidents
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(a) As used in this section, the term nonresident of Alabama shall include individuals, trusts, partnerships, corporations, and unincorporated organizations. Any seller or transferor who meets all of the following conditions and who provides the buyer or transferee with an affida…
Ala. Code § 40-18-9 Gain or Loss - Optional Method for Returning as Income Increases in Redemption Value of
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Securities Purchased at a Discount. If, in the case of a taxpayer owning any noninterest-bearing obligation issued at a discount and redeemable for fixed amounts increasing at stated intervals, the increase in the redemption price of such obligation occurring in the taxable year …
Ala. Code § 40-18-90 Definitions
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As used in this division, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) PERSON. Individuals, firms, partnerships, companies, corporations, associations, trustees, receivers, the State of Alabama, and any o…
Ala. Code § 40-18-91 Wager Proceeds; Withholding of State Income Tax
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(a) Each person making any payment of proceeds from a wager which constitutes “winnings subject to withholding” as defined by Section 40-18-90, shall deduct and withhold income tax in the amount of five percent of the payment. (b) Each person making withholding of state income ta…