§ 40-18-1 Definitions
§ 40-18-1.1 Operating rules
§ 40-18-2 Levied; persons and subjects taxable generally
§ 40-18-2.1 Income of foreign missionary exempt
§ 40-18-3 Income of officers or agents of the United States, etc
§ 40-18-4 Interest or other income received from obligations of the United States or its possessions, agencies or instrumentalities
§ 40-18-5 Tax on individuals
§ 40-18-6 Gain or loss – Basis of property; adjusted basis
§ 40-18-6.1 Gain or loss – Special rules for capital gains invested in opportunity zones
§ 40-18-7 Gain or loss – Determination of amount
§ 40-18-8 Gain or loss – Recognition
§ 40-18-8.1 Gain or loss – Recognition of gains invested in opportunity zones
§ 40-18-9 Gain or loss – Optional method for returning as income increases in redemption value of securities purchased at a discount
§ 40-18-11 Inventory
§ 40-18-12 Net income of individuals – Defined
§ 40-18-13 Computation of income
§ 40-18-14 Adjusted gross income of individuals
§ 40-18-14.1 Deferred compensation plans
§ 40-18-14.2 Adjusted gross income
§ 40-18-14.3 Gross income – Discount and interest
§ 40-18-15 Deductions for individuals generally
§ 40-18-15.1 Net income taxable income defined – Generally
§ 40-18-15.2 Net operating loss
§ 40-18-15.3 Deductions for health insurance premiums
§ 40-18-15.4 Deductions for certain retrofitting or upgrades to homes – Residence in Alabama Insurance Underwriting Association zone
§ 40-18-15.5 Deductions for certain retrofitting or upgrades to homes – Residence in Alabama
§ 40-18-15.6 Deductions for contributions made to health savings accounts
§ 40-18-15.7 Optional increased standard deduction for qualified persons
§ 40-18-15.8 Deductions for contributions to qualifying Alabama Achieving a Better Life Experience savings accounts
§ 40-18-16 Depreciation
§ 40-18-17 Items not deductible
§ 40-18-18 Amortization of war or emergency facilities
§ 40-18-19 Exemptions – Generally
§ 40-18-19.1 Exemptions for severance, unemployment compensation, etc
§ 40-18-19.2 Exemption of certain death benefit payments for peace officer or fireman killed in line of duty
§ 40-18-19.3 State income tax credit for the use of personal motor vehicle
§ 40-18-20 Exemptions – Military retirement benefits
§ 40-18-21 Credits for taxes paid on income from sources outside the state and for job development fees
§ 40-18-21.1 Annual report of credits claimed for taxes paid to foreign countries
§ 40-18-22 Taxpayers engaged in multistate business – Allocation and apportionment of deductions and exemptions
§ 40-18-23 Taxpayers engaged in multistate business – Option of certain taxpayers to report and pay tax on basis of percentage of volume
§ 40-18-24 Taxation of subchapter K entity
§ 40-18-24.2 Taxation of pass-through entities
§ 40-18-24.3 Taxation on distributive share of interest, dividends, etc., of nonresident member of qualified investment partnership
§ 40-18-24.4 Alabama Electing Pass – Through Entity Tax Act
§ 40-18-24.5 Refundable credit for certain owners, members, partners, or shareholders of electing pass-through entities
§ 40-18-25 Estates and trusts
§ 40-18-25.1 Estates and trusts – Exemptions
§ 40-18-25.2 Estates and trusts – Deductions from gross income of net operating loss
§ 40-18-26 Information from source of income
§ 40-18-27 Individual taxpayer’s returns; liability of innocent spouse
§ 40-18-28 Returns of subchapter K entities and single member limited liability companies
§ 40-18-29 Fiduciary returns
§ 40-18-30 Return when accounting period changes
§ 40-18-31 Corporate income tax – Generally
§ 40-18-31.2 Factor presence nexus standard for business activity
§ 40-18-32 Corporate income tax – Exemptions
§ 40-18-33 Corporate income tax – Taxable income
§ 40-18-34 Additions required by corporations
§ 40-18-35 Deductions allowed to corporations
§ 40-18-35.1 Carry forward of net operating losses
§ 40-18-35.2 Deductions from federal taxable for amounts included in income under 26 U.S.C. Section 951A, etc
§ 40-18-35.3 Deductions from federal taxable for amounts included in income under 26 U.S.C. Section 118(b)(2)
§ 40-18-37 Items not deductible by corporations
§ 40-18-39 Corporate returns
§ 40-18-39.1 Business interest expense deduction; limitations
§ 40-18-39.2 Extensions for filing Alabama corporate income tax return
§ 40-18-40 Tax to be reported on forms; department may assess additional tax penalty or interest
§ 40-18-41 Amortization of ad valorem tax
§ 40-18-42 Time and methods of payment of tax
§ 40-18-44 Installment method
§ 40-18-50 Penalty for failure to make return within time specified
§ 40-18-51 Applicability of lien provisions; disposition of collections; collection prior to delinquency
§ 40-18-53 Inspection of returns by federal or foreign state agents
§ 40-18-54 Supervision of assessment and collection
§ 40-18-55 Statement to be furnished by taxpayer
§ 40-18-56 Furnishing sworn statement of annual return of income to department; penalties for failure to comply; limitations on inspection of taxpayer’s records
§ 40-18-57 Rules to be promulgated by Department of Revenue
§ 40-18-58 Appropriation
§ 40-18-59 Additional appropriations
§ 40-18-60 COVID-19 Recovery Capital Credit Protection Act of 2021
§ 40-18-61 Restaurant revitalization grant monies
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Terms Used In Alabama Code > Title 40 > Chapter 18 > Article 1 - General Provisions

  • Alabama affiliated group: means a group of corporations, each member of which is subject to tax under Section 40-18-31 and Public Law 86-272 (15 U. See Alabama Code 40-18-39
  • 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
  • Amortization: Paying off a loan by regular installments.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • Decedent: A deceased person.
  • Devise: To gift property by will.
  • Executor: A male person named in a will to carry out the decedent
  • Fiduciary: A trustee, executor, or administrator.
  • Grantor: The person who establishes a trust and places property into it.
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • license tax: as used in this title , shall be deemed to include any tax prescribed by a license tax schedule, but shall not exclude any license tax otherwise prescribed. See Alabama Code 40-12-344
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Personal property: All property that is not real property.
  • personal property: includes money, goods, chattels, things in action and evidence of debt, deeds and conveyances. See Alabama Code 1-1-1
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • real property: includes lands, tenements and hereditaments. See Alabama Code 1-1-1
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Separate return: means an Alabama corporation income tax return filed by a single corporation in accordance with this chapter. See Alabama Code 40-18-39
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Treasury regulations: means final and temporary regulations now or hereafter promulgated by the U. See Alabama Code 40-18-39
  • United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1