(a) Notwithstanding the provisions of subsection (f) of Section 40-18-417.4, for tax years beginning on or after January 1, 2021, the credit issued to a parent or holding company may be claimed by the subsidiary, provided both parent or holding company and subsidiary are filing as part of an Alabama consolidated return.
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Terms Used In Alabama Code 40-18-417.8

  • Alabama consolidated return: means an Alabama corporation income tax return filed by or on behalf of the members of an Alabama affiliated group in accordance with this section, pursuant to an election made under subsection (c) below. See Alabama Code 40-18-39
(b) The Department of Revenue may adopt rules for the implementation and administration of this act.
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