Section 40-14A-38 – (Repealed for Taxable Years Beginning on or After January 1, 2002.)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Section 40-14A-38 (Repealed for taxable years beginning on or after January 1, 2002.)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 […]
Section 40-14A-42 – Applicability to Certain Corporations Under Contract With Department of Economic and Community Affairs.
Section 40-14A-42 Applicability to certain corporations under contract with Department of Economic and Community Affairs. The taxes levied by this chapter shall not apply to any corporation that is wholly or partially exempt from the franchise tax imposed by former Chapter 14 of this title because it is a party to a contract with the […]
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-43 – Applicability to Organizations Under 26 u.s.c.a. &Sect;501(a).
Section 40-14A-43 Applicability to organizations under 26 U.S.C.A. §501(a). The taxes levied by this chapter shall not apply to any organization described in 26 U.S.C. §501(a), any county, municipality, municipal corporation, or the State of Alabama, or any corporation or association owned solely by counties, municipalities, or the State of Alabama, any community chest, fund, […]
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 […]