Section 40-18-27 – Individual Taxpayer’s Returns; Liability of Innocent Spouse.
Section 40-18-27 Individual taxpayer’s returns; liability of innocent spouse. (a) Every taxpayer having gross income before the deductions allowed by this chapter for the taxable year exceeding the sum of the allowable standard deduction as provided in Section 40-18-15 and the personal exemption as provided in Section 40-18-19, as allowed for his or her respective […]
Section 40-18-38 – Additional Deductions Allowed for Corporations; Credits.
Section 40-18-38 Additional deductions allowed for corporations; credits. Repealed by Act 99-664, effective Dec. 31, 2000. (Acts 1935, No. 194, p. 256; Code 1940, T. 51, §405; Acts 1993, 1st Ex. Sess., No. 93-852, p. 95, §4.)
Section 40-18-28 – Returns of Subchapter K Entities and Single Member Limited Liability Companies.
Section 40-18-28 Returns of subchapter K entities and single member limited liability companies. Every subchapter K entity, and every single member limited liability company, shall make a return to the Department of Revenue for each taxable year, stating specifically the items of its gross income and the deductions allowed by this chapter, and shall include […]
Section 40-18-29 – Fiduciary Returns.
Section 40-18-29 Fiduciary returns. (a) Every fiduciary, except receivers appointed by authority of law in possession of part only of the property of a taxpayer, shall make a return for the taxpayer for whom he acts, first, if the net income of such taxpayer is $1,500 or over, if single or if married and not […]
Section 40-18-30 – Return When Accounting Period Changes.
Section 40-18-30 Return when accounting period changes. (a) Taxpayer filing separate returns. If a taxpayer, with the approval of the Department of Revenue, changes the basis of computing taxable income from the fiscal year to the calendar year, a separate return shall be filed for the period between the close of the last fiscal year […]
Section 40-18-31 – Corporate Income Tax – Generally.
Section 40-18-31 Corporate income tax – Generally. (a) A corporation subject to the tax imposed by Section 40-18-2 shall pay a tax equal to six and one-half percent of the taxable income of the corporation, as defined in this chapter. (b) If the taxpayer elects to file an Alabama consolidated return under Section 40-18-39, the […]
Section 40-18-31.1 – Election for Foreign Corporations to Classify Dividend Income From Certain Subsidiaries as Business or Nonbusiness Income.
Section 40-18-31.1 Election for foreign corporations to classify dividend income from certain subsidiaries as business or nonbusiness income. Repealed by Act 99-664, effective Dec. 31, 2000. (Acts 1995, No. 95-591, p. 1251, §1.)
Section 40-18-31.2 – Factor Presence Nexus Standard for Business Activity.
Section 40-18-31.2 Factor presence nexus standard for business activity. (a)(1) Individuals who are residents or domiciliaries of this state and business entities that are organized or commercially domiciled in this state have substantial nexus with this state. (2) Nonresident individuals and business entities organized outside of the state that are doing business in this state […]
Section 40-18-7 – Gain or Loss – Determination of Amount.
Section 40-18-7 Gain or loss – Determination of amount. (a) Computation of gain or loss. Except as hereinafter provided in this section, the gain from the sale or other disposition of property shall be the excess of the amount realized therefrom over the adjusted basis provided in subsection (b) of Section 40-18-6, and the loss […]
Section 40-18-15.5 – Deductions for Certain Retrofitting or Upgrades to Homes – Residence in Alabama.
Section 40-18-15.5 Deductions for certain retrofitting or upgrades to homes – Residence in Alabama. (a) Any individual taxpayer, whose legal residence is located in Alabama, shall be allowed a deduction from taxable income, regardless of whether the taxpayer itemizes his or her income tax deductions, in calculating the income tax imposed pursuant to Section 40-18-5, […]