Section 40-14A-26 – Remittance and Disposition of Tax.
Section 40-14A-26 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 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 […]
Section 40-14A-27 – Dissolution, etc., of Corporations or Limited Liability Entities.
Section 40-14A-27 Dissolution, etc., of corporations or limited liability entities. 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 […]
Section 40-14A-28 – Nonexemption From License or Privilege Tax.
Section 40-14A-28 Nonexemption from license or privilege tax. 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 […]
Section 40-14A-29 – Submission of Initial Tax and Report.
Section 40-14A-29 Submission of initial tax and report. (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 and address of its agent […]
Section 40-14A-31 – (Repealed for Taxable Years Beginning on or After January 1, 2002.) Levy of Tax.
Section 40-14A-31 (Repealed for taxable years beginning on or after January 1, 2002.) Levy of tax. (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 […]
Section 40-14A-32 – (Repealed for Taxable Years Beginning on or After January 1, 2002.) Exemptions.
Section 40-14A-32 (Repealed for taxable years beginning on or after January 1, 2002.) Exemptions. 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 […]
Section 40-14A-33 – (Repealed for Taxable Years Beginning on or After January 1, 2002.) Definition of Initial Taxable Shares Base.
Section 40-14A-33 (Repealed for taxable years beginning on or after January 1, 2002.) Definition of initial 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 […]
Section 40-14A-34 – (Repealed for Taxable Years Beginning on or After January 1, 2002.) Definition of Taxable Shares Base.
Section 40-14A-34 (Repealed for taxable years beginning on or after January 1, 2002.) Definition of taxable 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 […]
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 […]