Section 40-14A-35 – (Repealed for Taxable Years Beginning on or After January 1, 2002.) Filing of Returns.
Section 40-14A-35 (Repealed for taxable years beginning on or after January 1, 2002.) Filing of returns. (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 […]
Section 40-14A-1 – Definitions.
Section 40-14A-1 Definitions. 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 time. (d) CORPORATION. An entity, including a […]
Section 40-14A-36 – (Repealed for Taxable Years Beginning on or After January 1, 2002.) Remittance and Disposition of Tax.
Section 40-14A-36 (Repealed for taxable years beginning on or after January 1, 2002.) Remittance and 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 […]
Section 40-14A-2 – Operating Rules.
Section 40-14A-2 Operating rules. (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 accordance with generally accepted accounting principles, then net […]
Section 40-14A-37 – (Repealed for Taxable Years Beginning on or After January 1, 2002.) Dissolution, etc., of Corporations.
Section 40-14A-37 (Repealed for taxable years beginning on or after January 1, 2002.) Dissolution, etc., of 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 […]
Section 40-14A-21 – Short Title.
Section 40-14A-21 Short title. This article shall be known and may be cited as the “Alabama Business Privilege Tax Act of 1999.” (Act 99-665, 2nd Sp. Sess., §2; Act 2000-705, p. 1442, §2.)
Section 40-14A-38 – (Repealed for Taxable Years Beginning on or After January 1, 2002.) Nonexemption From License or Privilege Tax.
Section 40-14A-38 (Repealed for taxable years beginning on or after January 1, 2002.) Nonexemption from 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 […]
Section 40-14A-22 – Levy and Amount of Tax.
Section 40-14A-22 Levy and amount of tax. THIS SECTION WAS AMENDED BY ACT 2022-252 IN THE 2022 REGULAR SESSION, EFFECTIVE JULY 1, 2022. TO SEE THE AMENDED VERSION, SEE THE VERSION LABELED PENDING. (a) Levy of tax. There is hereby levied an annual privilege tax on every corporation, limited liability entity, and disregarded entity doing […]
Section 40-14A-41 – Applicability to Certain Entities Organized Before January 1, 1999.
Section 40-14A-41 Applicability to certain entities organized before January 1, 1999. 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 […]
Section 40-14A-23 – Definition of Net Worth.
Section 40-14A-23 Definition of net worth. (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 […]