US Lawyer Database

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-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-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-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-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 […]