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 […]

Section 40-14A-24 – Net Worth in Alabama.

Section 40-14A-24 Net worth in Alabama. (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 manner in which the […]

Section 40-14A-25 – Filing of Returns.

Section 40-14A-25 Filing of returns. (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 individual, general partnership, […]

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 […]